Morgan Stanley Reevaluates US Steel Amid Nippon Steel's Offer
In a notable adjustment within the steel industry, Morgan Stanley has recently made public its decision to downgrade US Steel (NYSE:X) from an 'Overweight' rating to a more conservative 'Equalweight.' Alongside this shift, the firm has uplifted its price target for the stock from $40 to $51, a move that closely follows the culmination of US Steel's strategic review process and the compelling $55 per share bid from Nippon Steel.
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