Friday, September 17, 2010

Goldman (NYSE:GS) Lowers Price Target, EPS for AK Steel (NYSE:AKS)

AK Steel Holding (NYSE:AKS) has the price target and earnings per share of the company lowered by Goldman Sachs (NYSE:GS), although Goldman did maintain their "Buy" rating on the stock of the steel company.

Earnings per share estimates for the third quarter were dropped to $0.13 from $0.20, and for the fourth quarter from $0.18 to $0.25.

Lower volume and expected higher costs were the reasoning behind the changes.

AK Steel recently lowered its own guidance going forward.

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