United States Steel Corporation (NYSE: X ) shares have popped by 4% in midday action after Seth Rosenfeld of Jefferies hiked his price target on the steel producer to $50 from the previous $45 per share. Rosenfeld believes the cyclical recovery in the energy sector could drive more steel demand beyond just simple rig counts. Due to his belief, the analyst thinks that there is possible upside to United States Steel Corporation (NYSE:X)'s current outlook. Jefferies has a 'Buy' rating.