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Credit Suisse upgrades U.S. Steel, says stock can jump 40% amid ‘super cycle’ for steel

A worker heads toward the U.S. Steel Clairton Works, March 11, 2018 in Clairton, Pennsylvania.

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The sharp rise in steel prices combined with a shift away from heavy pollution projects should boost shares of United States Steel by more than 40% over the next year, according to Credit Suisse.

Analyst Curt Woodworth upgraded the legacy steel producer to outperform from underperform, saying that the surge in prices for steel made it clear that the industry was in a “super cycle.” Steel prices, like the cost of many other commodities and industrial inputs, have been on a tear in recent months.

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