Friday is turning out to be another great day to own shares of United States Steel (NYSE: X) . As of 12:50 p.m., shares of the steel giant were up by 9.4% after the company received a "double upgrade" from Deutsche Bank analyst Chris Terry.
There's not a whole lot of detail available on why the Deutsche analyst upgraded U.S. Steel stock. About all our friends at TheFly.com have been able to come up with was that he thinks that the "stars are aligned" for metals stocks and mining stocks alike.
But the lack of detail seems to be taking a backseat in investors' minds to the sheer scale of this upgrade. Not only did Deutsche swing all the way from sell to buy on U.S. Steel shares -- it raised its price target on the stock from $4 a share to $28!
For further details see:
Why U.S. Steel Stock Just Popped by 9%