ArcelorMittal (MT) : 3 brokerage houses believe that ArcelorMittal (MT) is a Strong Buy at current levels. 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on ArcelorMittal (MT). Zacks Investment Research suggests a Strong Buy with a rank of 1. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 7 Wall Street Analysts endorse the stock as a Buy with a rating of 2.43.
ArcelorMittal (MT) : 5 investment research analysts covering ArcelorMittal (MT) have an average price target of $6.38 for the near short term. The highest target price given by the Brokerage Firm to the stock is $7 and the lowest target is $6 for the short term. Analysts expect the variance to be within $0.64 of the average price.
For the current week, the company shares have a recommendation consensus of Buy. Also, Citigroup upgrades their rating on the shares of ArcelorMittal (NYSE:MT). The current rating of the shares is Buy. Earlier, the shares were rated a Neutral by the brokerage firm. Equity Analysts at the Firm raises the price target to $5.4 per share from $5 per share. The rating by the firm was issued on June 1, 2016.
ArcelorMittal (NYSE:MT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.15 and $6.06 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.22, notching a gain of 1.80% for the day. The total traded volume was 13,131,900 . The stock had closed at $6.11 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.