CS ON STEEL : 26.05.2021
* Credit Suisse says the expectation of elevated domestic iron ore prices would hurt spreads.
* Tata Steel downgraded to NEUTRAL from OUTPERFORM
* JSPL downgraded to NEUTRAL from OUTPERFORM
* JSW Steel downgraded to UNDERPERFORM from NEUTRAL
* Downgrade Tata Steel To Neutral From Outperform, Target At *1,250/Sh
* Downgrade JSPL To Neutral From Outperform, Target At 7450/Sh
* Downgrade JSW Steel To Underperform From Neutral, Target At 7550/Sh
* Of All Four Steel Names, JSW Is Trading At Most Expensive Valuations
* Expectation of Elevated Domestic Iron Ore Prices Would Also Hurt Spreads
* Maintain Neutral On SAIL, Target At 2140/Sh
