Boston, MA 07/15/2014 (wallstreetpr) – Fresh from the excitement generated by imposing of steep tariffs on Korean steel imports, United States Steel Corporation (NYSE:X) also earned a bullish note from Wall Street where analysts at Jefferies Group acted by raising their price target on the stock. The analysts boosted their price expectation in the stock to $31 per share from $27. The new price reflects more than 18 percent premium over the prevailing price. The analysts also acted by rating the stock a Hold.
United States Steel (NYSE:X) and its U.S. steel peers are expected to benefit from the move by the company to dilute the influence of foreign steel players in the U.S. market. The move comes at a time of when analysts anticipate robust tubular steel sales because of the boom in the U.S. oil and gas industry where tubular steel is used for new wells.
Following the new rating from Jefferies Group, United States Steel Corporation (NYSE:X) now carries a consensus Hold rating and an average price target of $28.62. The average price target suggests a slight premium over the previous closing price.
An increasing number of investors are betting that share price on the stock of Groupon Inc (NASDAQ:GRPN) will drop as reflected in the increase in short interest in the stock. According to the latest data, short shares in the stock increase 6 percent in June from the previous month. As such, nearly 18 percent of the company’s shares are short interest.
Shares of Groupon Inc (NASDAQ:GRPN) declined nearly 2 percent in the Monday session, extending the decline in the stock to more than 45 percent since the beginning of the year.
Glu Mobile Inc. (NASDAQ:GLUU) continues to gain from the influence of its new release known as Kim Kardashian: Hollywood. The mobile games developer has already termed the game as likely its biggest game of the year. According to analysts, the game may fetch up to $200 million in revenue this year alone. That puts Glu is on solid financial position.