Mechel Lowered to “Neutral” at Citigroup Inc. (MTL)
Mechel (NYSE:MTL) was downgraded by equities researchers at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued on Friday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse cut their price target on shares of Mechel from $1.90 to $1.60 in a research note on Monday, March 31st. Analysts at Zacks reiterated a “neutral” rating on shares of Mechel in a research note on Thursday, March 20th. They now have a $2.00 price target on the stock. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus target price of $1.94.
Shares of Mechel (NYSE:MTL) opened at 2.03 on Friday. Mechel has a 52 week low of $1.56 and a 52 week high of $3.98. The stock’s 50-day moving average is $1.97 and its 200-day moving average is $2.17.
Mechel OAO is an integrated mining, steel, ferroalloys and power company. The Company operates in four segments: mining, steel, ferroalloys and power.
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