Overview
- Shares traded up 1.83% to $12.25 on Thursday, recouping a portion of Wednesday’s drop, according to Benzinga Pro.
- KeyBanc’s Philip Gibbs lowered the rating to Sector Weight from Overweight, citing fading near-term catalysts.
- The analyst now forecasts a fourth-quarter EBITDA loss of $22 million versus a prior $63 million profit estimate due to weaker spot steel prices and higher costs.
- His 2026 EBITDA estimate was reduced to $1.33 billion from $1.63 billion, with costs tied to a richer product mix running slightly higher than previously expected.
- Gibbs highlighted potential non-core asset sales and a possible POSCO joint venture as upside levers with limited visibility, as other firms’ views remain mixed after recent actions by Wells Fargo, Citigroup, and Goldman Sachs.