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Morgan Stanley upgrades U.S. Steel with steel prices near all-time highs

A view of U.S. Steel Edgar Thomson Steel Works, March 10, 2018 in Braddock, Pennsylvania.
Drew Angerer | Getty Images

The recent spike in global steel prices does not appear to be temporary, and that makes an improving U.S. Steel an attractive stock for investors, according to Morgan Stanley.

Analyst Carlos De Alba upgraded the company late on Monday to overweight from equal weight, saying in a note to clients that the higher prices should lead to stronger cash flow for the legacy steel producer.

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