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AKS - AK Steel: Is It Time For Another Speculative Play?
AK Steel Holding Corporation
In my article “AK Steel: Time For Upside” which was published in late January, I made the case for a momentum play in AK Steel (AKS) shares above $2.80 with first target of about $3.30 (6 forward P/E based on company’s guidance at that time) and second target of $4.00. The stock reached the first target but later corrected and is currently settling in a narrow $2.60 - $2.80 range, a situation similar to the one in mid-January. Is it time to look at another long play opportunity?