U.S. Steel price target lowered to $41 from $47 at Jefferies

Jefferies lowered the firm’s price target on U.S. Steel to $41 from $47 and keeps a Buy rating on the shares following The Washington Post and other media reports indicating that the White House plans to block Nippon Steel’s (NPSCY) proposed acquisition of U.S. Steel on national security grounds. While this outcome would be in-line with the firm’s base case, the firm sees “deep value in X‘s shares as a standalone” company after yesterday’s “aggressive sell off,” the analyst tells investors.