Credit Suisse Upgrades ArcelorMittal SA (ADR) to Outperform with Price Target $7.50

Brokerage firm Credit Suisse Upgrades its rating on ArcelorMittal SA (ADR)(NYSE:MT). In a research note issued to the investors, the brokerage major Raises the price-target to $7.50 per share. The shares have been rated Outperform. Previously, the analysts had a Neutral rating on the shares. The rating by Credit Suisse was issued on Apr 13, 2016.

In a different note, On Mar 31, 2016, Berenberg said it Upgrades its rating on ArcelorMittal SA (ADR). The shares have been rated ‘Buy’ by the firm. Morgan Stanley said it Initiates Coverage on ArcelorMittal SA (ADR), according to a research note issued on Mar 10, 2016. The shares have been rated ‘Overweight’ by the firm. On Mar 7, 2016, Jefferies said it Upgrades its rating on ArcelorMittal SA (ADR). In the research note, the firm Raises the price-target to $3.00 per share. The shares have been rated ‘Hold’ by the firm. On Feb 23, 2016, Cowen & Company said it Downgrades its rating on ArcelorMittal SA (ADR). In the research note, the firm Lowers the price-target to $13.00 per share. The shares have been rated ‘Market Perform’ by the firm. On Feb 9, 2016, JP Morgan said it Downgrades its rating on ArcelorMittal SA (ADR). The shares have been rated ‘Neutral’ by the firm. On Feb 9, 2016, Goldman Sachs said it Upgrades its rating on ArcelorMittal SA (ADR). The shares have been rated ‘Neutral’ by the firm.

ArcelorMittal SA (ADR) (MT) shares turned negative on Fridays trading session with the shares closing down -0.18 points or -3.13% at a volume of 1,44,92,182. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.66. The peak price level was also seen at $5.66 while the days lowest was $5.5. Finally the shares closed at $5.58. The 52-week high of the shares is $9.494389 while the 52-week low is $2.327913. According to the latest information available, the market cap of the company is $13,682 M.

ArcelorMittal SA (ADR)(MT) last announced its earnings results on Feb 12, 2016 for Fiscal Year 2015 and Q4.Earnings per share were $-0.21. Analysts had estimated an EPS of $-0.26.

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company is a steel and mining company which operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS) and Mining. The Company produces a range of finished and semi-finished steel products. Specifically it produces flat steel products including sheet and plate and long steel products including bars rods and structural shapes. In addition the Company produces pipes and tubes for various applications. The Company also produces various types of mining products including iron ore lump fines concentrate and sinter feed as well as coking pulverized coal injection (PCI) and thermal coal. The Company’s subsidiaries include ArcelorMittal Dofasco Inc. ArcelorMittal Montreal Inc. ArcelorMittal Point Lisas Ltd. ArcelorMittal Belgium N.V. and ArcelorMittal South Africa Ltd. among others.

Leave a Reply

ArcelorMittal SA (ADR) - Is it time to Sell?

Top Brokerage Firms are advising their investors on ArcelorMittal SA (ADR). Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.