JP Morgan analyst Bill Peterson downgraded United States Steel Corporation (NYSE:X) from Overweight to Neutral and cut the price forecast from $43 to $38.

The analyst cited the pending NSC deal, which seems to be ‘in the hands of the Trump administration’ as the reason.

In recent news, Nippon Steel and United States Steel are reportedly negotiating with the Trump administration to revive their $14 billion merger by significantly boosting investments in U.S. Steel’s Rust Belt facilities.

Also Read: Trump Torpedoes US Steel Deal, X Stock Tumbles Despite Bullish Chart

The analyst writes that, on the demand side, construction is under ...

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