Goldman Sachs Sees Upside In U.S. Steel (X)

Goldman Sachs is out with a research report on U.S. Steel X, saying it sees near term upside in the name. In a note to clients, Goldman writes, "Strong price momentum should bode well for our Buy-rated names, STLD and RS, which should continue to out-earn their peers through the cycle. Both are also trading at multiples well below the peers. We also see X (Neutral) as a beneficiary in the near-term due to its better raw material cost position. On the steel making raw material side, we like SCHN (Neutral) due to its favorable export position." Shares of X are up 61 cents in pre-market trading to $56.41.