Goldman Sachs is removing US Steel Group from its America's Buy List and is putting a Neutral rating on shares. It has a USD 56 price target on shares.

In a note to investors, Goldman Sachs writes that "We are downgrading US Steel to Neutral from Buy and lowering our six month, P/E- and EV/EBITDA-based target price to USD 56 from USD 74 after disappointing 1Q results and weaker than expected guidance. X reported adjusted EPS of USD 1.16, significantly below our estimate of USD 0.61 and consensus of USD 0.37. We lower our 2011-12 estimates by 46%/21% primarily on higher cost estimates at its Tubular and European operations. We see no new catalyst in the foreseeable future and prefer to remain on the sideline at this point. Since added to the Buy List on 2/14/11, X is 7.8% vs S&P 500 +1.1%; for the past 12 months, X is -10.3% vs. S&P 500 +11.2%."

(Sourced from www.benzinga.com)