No End in Sight to United States Steel Corporation (NYSE:X)’s Problems

United States Steel Corporation (NYSE:X) recently reported disappointing first quarter results after which the stock took a beating. The shares of the Pennsylvania-based steel company have lost about 34% over the last one month. The company’s CEO resigned earlier this month amid increasing pressure from shareholders due to sliding revenues and losses. Credit Suisse recently upgraded its rating on United Steel Corporation as it believes steel prices will start recovering in the second half of this year.

But a majority of analysts believe that United States Steel should not be bought due a high level of uncertainty revolving around the stock. Cowen’s analyst Novid Rassouli recently downgraded United States Steel Corporation (NYSE:X) to “Market Perform” from “Outperform” with a price target of $21.

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