Short Term Price Target on ArcelorMittal (MT)

ArcelorMittal (NYSE:MT) : Currently there are 5 street experts covering ArcelorMittal (NYSE:MT) stock. The most bullish and bearish price target for the stock is $7 and $5 respectively for the short term. The average price target of all the analysts comes to $6.18. The estimated standard deviation from the target is $0.9.

ArcelorMittal has lost 13.38% in the last five trading days and dropped 3.92% in the last 4 weeks. ArcelorMittal has dropped 2.92% during the last 3-month period . Year-to-Date the stock performance stands at 10.43%.

ArcelorMittal (NYSE:MT) has an average broker rating of 2.43, which is interpreted as a Buy, as rated by 7 equity analysts. Nonetheless, 3 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 3 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 2, which is also a Buy. 1 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.

ArcelorMittal (NYSE:MT): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.55 and $4.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $4.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.66, notching a gain of 2.64% for the day. The total traded volume was 17,752,488 . The stock had closed at $4.54 on the previous day.

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 Companys subsidiaries include ArcelorMittal Dofasco Inc., ArcelorMittal Montreal Inc., ArcelorMittal Point Lisas Ltd., ArcelorMittal Belgium N.V. and ArcelorMittal South Africa Ltd., among others.

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