2 Big Reasons U.S. Steel Stock Zoomed 46.9% in November
Shares of United States Steel (NYSE: X) jumped a whopping 46.9% in the month of November, according to data provided by S&P Global Market Intelligence. The steel stock isn't done rallying just yet: It's already up another 7.8% so far this month, as of the time of this writing.
While a recent consolidating move by a big player in the steel industry buoyed steel stocks, an analyst upgrade sent U.S. Steel shares shooting through the roof toward the end of the month.
On November 24, GLJ Research upgraded its rating on U.S. Steel to buy with a 12-month price target of $17.30, an upside of nearly 50% from the stock's trading price at the time. GLJ also upgraded Cleveland-Cliffs (NYSE: CLF) stock to buy.
Source Fool.com