MarketWatch
Goldman cuts AK Steel, Century Aluminum to sell
Edited by : AL CIRCLE
1 min read
Shares of AK Steel and Century Aluminum Co. both fell in midday action Monday after Goldman Sachs downgraded both stocks from neutral to sell. Goldman cut the ratings as part of a general downgrading of the entire steel sector to cautious from neutral, stating that "significant multiple expansions since early December in steel stocks are unwarranted in an oversupplied market." Shares of AK Steel dropped 8% to $4.08 while shares of Century Aluminum were off 4% at $8.51.
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