Morgan Stanley analysts have upgraded Nucor Corporation to overweight from equal weight, while cutting their rating on both Steel Dynamics Inc and United States Steel Corporation to equal weight from overweight.

Morgan Stanley kept its overweight rating on AK Steel Holding Corporation.

Analysts said in a note to clients that "Despite the recent sell-off, we think it is too early to buy the group as a whole. We would invest selectively, and recommend AKS for stock specific reasons and NUE as a defensive play with considerable upside."

(Sourced from www.marketwatch.com)