Courtesy of Benzinga.
In a report published Monday, Bank of America analyst Timna Tanners reiterated a Buy rating and $13.00 price target on AK Steel Holding Corporation (NYSE: AKS).
In the report, Bank of America noted, “We lowered 2015E EPS to $2 from $2.50 after factoring in the Severstal Dearborn steel mill acquisition and some conservatism to reflect integration risk. Including the equity greenshoe the financing ended up being 54%/46% debt vs equity compared with AK’s guidance of 60/40. Our 2015E EPS is well above consensus at $1.14 as we don’t think AK’s ~$1.8B in tax loss carryforwards is being fully factored in.”
AK Steel Holding Corporation closed on Friday at $9.11.
Latest Ratings for AKS
Date | Firm | Action | From | To |
---|---|---|---|---|
Aug 2014 | Bank of America | Reiterates | Buy | |
Aug 2014 | UBS | Upgrades | Sell | Neutral |
Aug 2014 | Deutsche Bank | Maintains | Hold |
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Posted-In: Bank of America Timna TannersAnalyst Color Reiteration Analyst Ratings