Price Target Update on ArcelorMittal (NYSE:MT)

ArcelorMittal (NYSE:MT) : The highest short term price target forecast on ArcelorMittal (NYSE:MT) is $7 and the lowest target price is $4. A total of 5 equity analysts are currently covering the company. The average price of all the analysts is $5.78 with a standard deviation of $1.34.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, Citigroup upgrades its rating on ArcelorMittal (NYSE:MT).The analysts at the brokerage house have a current rating of Buy on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. In a recent information released to the investors, Citigroup raises the new price target from $5 per share to $5.4 per share. The rating by the firm was issued on June 1, 2016.

ArcelorMittal (NYSE:MT): stock turned positive on Thursday. Though the stock opened at $5.4, the bulls momentum made the stock top out at $5.44 level for the day. The stock recorded a low of $5.27 and closed the trading day at $5.38, in the green by 6.32%. The total traded volume for the day was 17,798,544. The stock had closed at $5.06 in the previous days trading.

The company shares have dropped -51.30% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $10.54 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $4.95 and the 200 Day Moving Average price is recorded at $4.45.

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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