JPMorgan, Bank of America & Steel Giants Revised in Analysts' Actions

TheStreet

In Wednesday's Analysts' Actions, two big banks get revised while to two steel giants get higher price targets and Lumber Liquidators gets a rating upgrade. JPMorgan Chase (JPM) was upgraded to a 'Buy' from 'Neutral' at Nomura Securites and got its price target raised to $69 a share. At the same time, the firm downgraded Bank of America (BAC) to a 'Neutral' from a 'Buy' rating. But Citigroup still remains the top pick for the analysts there. Morgan Stanley (MS) is raising its view of two steel giants. The firm sees both U.S. Steel (X) and Steel Dynamics (STLD) as "attractive" and hiked U.S. Steel's price target by nearly 40 percent to $60 from $35 a share. The price target for Steel Dynamics was also increased to $28 from $21. Both companies have an 'Overweight' rating at Morgan Stanley. Lumber Liquidators (LL) got an upgrade at Wedbush and is now rated an 'Outperform' from 'Neutral.' The firm thinks the worst of the company's supply chain issues and competitive pressures are behind it. The price target was also raised from 62 dollars to 73 dollars a share.