United States Steel Corporation (NYSE:X) shares were surging as the company received an upgrade Friday morning.

The company was upgraded by stock analysts at Standpoint Research from a “hold” rating to a “buy” rating on a report that was issued on Wednesday, June 7th. Additionally, the firm included a price target of $28.00 for the company.

The upgrade marks an upside of of 32.89% compared to United States Steel Corporation’s previous close. Analysts noted that they decided to upgrade the company after predicting that it was undervalued.

Several other major firms upgraded United States Steel Corporation, including Deutsche Bank AG, which raised the company’s price target from $40.00 to $45.00, to go along with a “buy” rating on X stock.

Macquarie increased its price target on United States Steel Corporation from an “underperform” rating to a “neutral” rating, while also increasing its price target on the stock from $23.00 to $30.00.

X stock grew 5.9% throughout the course of the day. Before Friday’s early surge, United States Steel Corporation had had a dismal year, declining more than 36% year-to-date.

It’s been a rough time for the company since April, when it reported earnings that were subpar at best, failing to meet the consensus estimate.