Shares of U.S. Steel are up roughly 80 percent from the lows in June. Following Mondays upgrade, steel shares added another 2.5 percent. Credit Suisse analysts see U.S. Steel as the leader in steel manufacturing due to their reduced raw material costs.
U.S Steel is trading at $38.75 up 2.5 percent
On the other hand, Credit Suisse analysts downgraded shares of Steel Dynamics (NASDAQ: STLD) from Outperform to Neutral Monday. Analysts cite the current rise in stock price as a deterrent. Credit Suisse suggests waiting for a lower entrance price.
Steel Dynamics is trading at $23.16 down 0.5 percentOther Steel Securities:
- Market Vectors Steel ETF (NYSE: SLX) is trading at $49.44 up 0.2 percent
- AK Steel Holdings (NYSE: AKS) is trading at $10.89 up two percent
- Reliance Steel & Aluminum (NYSE: RS) is trading at $69.62 up 0.5 percent
- Schnitzer Steel Industries Inc. (NASDAQ: SCHN) is trading at $27.65 down 0.3 percent
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