POSCO Coverage Initiated at Bank of America (PKX)
POSCO (NYSE:PKX) opened at 71.73 on Wednesday. POSCO has a 1-year low of $62.30 and a 1-year high of $80.46. The stock’s 50-day moving average is $73.24 and its 200-day moving average is $72.0. The company has a market cap of $25.890 billion and a price-to-earnings ratio of 20.75.
Separately, analysts at Citigroup Inc. upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a research note on Friday, March 21st.
POSCO is an integrated steel producer in Korea. It produced approximately 31.7 million tons of crude steel during the year ended December 31, 2009, a substantial portion of which was produced at Pohang Works and Gwangyang Works.
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