Here are the biggest calls on Wall Street on Wednesday
UBS said it sees market share losses in the coming years.to Sell from Neutral as we estimate near-term capital investment will not reverse market share losses in the coming years. Geospatial analysis conducted by UBS Evidence Lab shows planned capacity additions will result in 2.6% more domestic market coverage for electric arc furnace producers versus 2.5% less for blast furnace producers by 2022 .
"We are downgrading shares to Market Perform as the company continues to perform below our expectations. We believe the ~20% decline today reflects the negative earnings report today and with this type of decline, some speculation previously made in the press about a potential sale to private equity may re-emerge. However, we have decided to return to our core belief that the risks outweigh the valuation especially what we consider EPS uncertainty.
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