POSCO Now Covered by Macquarie (PKX)
A number of other analysts have also recently weighed in on PKX. Analysts at Zacks reiterated a “neutral” rating on shares of POSCO in a research note on Monday. They now have a $87.00 price target on the stock. Separately, analysts at Credit Suisse upgraded shares of POSCO from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 12th. Finally, 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $87.00.
POSCO (NYSE:PKX) traded up 1.88% during mid-day trading on Friday, hitting $84.60. 38,729 shares of the company’s stock traded hands. POSCO has a 52 week low of $63.71 and a 52 week high of $84.52. The stock’s 50-day moving average is $80.33 and its 200-day moving average is $73.53. The company has a market cap of $26.999 billion and a price-to-earnings ratio of 19.22.
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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