U.S. STEEL (X $40.35, rating to Neutral from Overweight) CONTRACT PRICE LAGS, MARKET SHARE LOSSES AND THE STOCK PRICE MET OUR OBJECTIVES 7/29/2009
DOMTAR (UFS $14.63, Overweight at $36 Price Target) FREE CASH FLOW DESPITE WORSENING MARKET DYNAMICS FOR UNCOATED FREE SHEET 7/8/2009
HIGHER OUTPUT, “APPARENT” DEMAND AND OFFTAKE FOR “RESTOCKING” 7/27/2009
RETURNS BACK TO WORK IN U.S. AS CHINA SETS RECORD AFTER RECORD 7/20/2009
SPOTMARKETS ADAPTING TO 50%-PLUS PRICE OR REVENUE DECLINES IN CASES OF ALCOA, NUCOR, U.S. STEEL, FCX OR THOMPSON CREEK METALS 7/13/2009
MORE SIGNS THE ASIAN RESTOCKING PHASE CONCLUDED; INDICATIONS OF GRADUAL, CONSISTENT, SLOW GLOBAL RECOVERIES 7/6/2009
PLUM CREEK (PCL $30.50, rated Overweight) PRICE TARGET CUT TO $41 FROM $56, WE MODEL 25% DIVIDEND CUT AND CLIMATE CHANGE LAW 7/29/2009
NUCOR (NUE $42.58, rating cut to Underweight from Neutral and Price Target to $20 from $52) HIGHER SCRAP INPUTS, WEAK COMMERCIAL CONSTRUCTION AND LITIGATION RISKS CLOUD OUTLOOK 7/14/2009
NEWMONT MINING (NEM $39.95, rated Neutral with $44 price target) IMPROVED COMMODITY PRICE FORECASTS MORE THAN OFFSET HIGHER CASH COST ESTIAMTES 7/8/2009
MEADWESTVACO (MWV $19.52, Downgraded to Underweight from Neutral) LACK OF “ROAD MAP” TO $1.00 IN EPS SUGGESTS STOCK OVERVALUED 7/30/2009