U.S. Steel Corp. Next Stop $65 per Share

KeyBanc set an aggressive price target on United States Steel Corporation (NYSE:X) shares of $65 which implies a 30% gain in 12 months from today's close of $49.67

KeyBanc went to bat for U.S. Steel today saying: "Higher scrap costs, rising spot flat rolled pricing, and more evidence of end demand recovery create an incrementally positive picture for North American carbon producers, especially those with relatively less exposure to rising raw material costs."

More on KeyBanc's comments thanks to StreetInsider.com
We remain cognizant of a more protracted macro recovery scenario in North America, but sense further upward progress will be achieved during 1H10. As such, we have upgraded shares of U.S. Steel to BUY from HOLD with a $65 price target given its relatively stable domestic cost picture in 2010 against increasing potential for sustained higher spot pricing, further recovery in Central European steel momentum, and lessening headwinds in energy tubular markets

U.S. Steel shares finished up 2.9% today and have a 52-week range of $16.66 to $51.65