ArcelorMittal SA (ADR) (MT) is Reiterated by Cowen to Market Perform, Raises Price Target to $ 8

ArcelorMittal SA (ADR) (MT) was Reiterated by Cowen to “Market Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 8 from a previous price target of $6 . Cowen advised their investors in a research report released on Aug 3, 2016.

Many Wall Street Analysts have commented on ArcelorMittal SA (ADR). ArcelorMittal SA (ADR) was Upgraded by Citigroup to ” Buy” on Jun 1, 2016.

On the company’s financial health, ArcelorMittal SA (ADR) reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.03. The company had revenue of $14743.00 million for the quarter, compared to analysts expectations of $15233.82 million. The company’s revenue was down -12.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.10 EPS.

ArcelorMittal SA (ADR) closed down -0.26 points or -4.08% at $6.11 with 1,79,54,342 shares getting traded on Tusday. Post opening the session at $6.21, the shares hit an intraday low of $6.03 and an intraday high of $6.27 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

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.

ArcelorMittal SA (ADR)

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