Analysts Offer Insights on Materials Companies: AK Steel Holding (NYSE: AKS) and BP plc (NYSE: BP)

By Carrie Williams

Analysts fell to the sidelines weighing in on AK Steel Holding (NYSE: AKS) and BP plc (NYSE: BP) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

AK Steel Holding (NYSE: AKS)

AK Steel Holding (NYSE: AKS) received a Hold rating and a $7 price target from Citigroup analyst Alexander Hacking today. The company’s shares closed yesterday at $6.32.

According to TipRanks.com, Hacking is a 3-star analyst with an average return of 10.1% and a 41.2% success rate. Hacking covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Commercial Metals Company, and Teck Resources Limited.

AK Steel Holding has an analyst consensus of Hold, with a price target consensus of $9.33.

BP plc (NYSE: BP)

In a report released today, Alastair Syme from Citigroup downgraded BP plc (NYSE: BP) to Hold. The company’s shares closed yesterday at $34.67.

According to TipRanks.com, Syme is a 1-star analyst with an average return of -2.6% and a 57.1% success rate. Syme covers the Basic Materials sector, focusing on stocks such as Valero Energy Corp, Conocophillips, and Marathon Petro.

Currently, the analyst consensus on BP plc is Moderate Buy and the average price target is $37.50, representing an 8.2% upside.

In a report issued on April 6, Jefferies also reiterated a Hold rating on the stock with a $37.50 price target.

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