U.S. Steel Corp. (X)

February 9, 2023

An Unexpected “Global Steel Price Reset” Appears Fated; We Move X to SELL from BUY; Yr-End ’23 PT Moves to $13.85 from $42.75 Prior

By Gordon L. Johnson II

Despite a Strong Reaction in the Stock the Day it Reported Q4 Earnings (i.e., Feb. 3rd), with Big River (i.e., X’s Mini-Mill) Reporting Negative EBIT in Q4, as Well as Negative EBIT in X’s USSE…