POSCO Rating Increased to Outperform at Credit Suisse (PKX)
POSCO (NYSE:PKX) was upgraded by investment analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Shares of POSCO (NYSE:PKX) opened at 79.35 on Tuesday. POSCO has a 52-week low of $63.71 and a 52-week high of $82.11. The stock has a 50-day moving average of $75.99 and a 200-day moving average of $71.77. The company has a market cap of $25.323 billion and a P/E ratio of 22.52.
Separately, analysts at Bank of America initiated coverage on shares of POSCO in a research note on Wednesday, June 11th. They set a “buy” rating on the stock.
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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