Jefferies Reaffirms Their Buy Rating on AK Steel Holding

By Carrie Williams

In a report issued on June 26, Seth Rosenfeld from Jefferies reiterated a Buy rating on AK Steel Holding (NYSE: AKS), with a price target of $9. The company’s shares closed yesterday at $6.50.

According to TipRanks.com, Rosenfeld is a 4-star analyst with an average return of 5.7% and a 58.0% success rate. Rosenfeld covers the Basic Materials sector, focusing on stocks such as Layne Christensen Company, Worthington Industries, and Peabody Energy Corp.

Currently, the analyst consensus on AK Steel Holding is Moderate Buy and the average price target is $7.64, representing a 17.5% upside.

In a report issued on June 23, Deutsche Bank also upgraded the stock to Buy.

The company has a one year high of $11.39 and a one year low of $3.87. Currently, AK Steel Holding has an average volume of 18.76M.

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AK Steel Holding Corp. engages in the production of flat-rolled carbon; stainless and electrical steels; and tubular products through its wholly-owned subsidiary, AK Steel Corp. The firm operates steelmaking and finishing plants; coke plants; and tube manufacturing plants. It also produces metallurgical coal.