A Goldman Sachs analyst said, "AK Steel is the least vertically integrated mill in our coverage, with virtually no participation in iron or ore or coking coal assets. It is thus highly vulnerable to cost pressure."
Company shares are trading 6.90% lower on the news at $15.44.
Goldman Sachs Group, Inc. (NYSE:GS) cut its rating for AK Steel Holding Corp. (NYSE:AKS) from Neutral to Sell on Friday, with a $12.00 price target.
