British Steel: UK minister says he wouldn't bring China into 'sensitive' steel industry again
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
UK Government Takes Control of British Steel: The UK government has intervened to take control of British Steel after the Chinese owners, Jingye Group, rejected a £500 million aid package, which was necessary to prevent damage to critical blast furnaces.
Concerns Over Steel Industry Security: Business Secretary emphasized that allowing the sensitive steel industry to fall into foreign hands was a mistake, highlighting the urgency of the situation to maintain primary steel production in the UK.
Analyst Views on EWU
Wall Street analysts forecast EWU stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EWU is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 45.160
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Current: 45.160
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
