ArcelorMittal (MT) Receives ‘Analyst’ Rating

ArcelorMittal (MT) : The consensus on ArcelorMittal (MT) based on 6 analyst recommendation on the company stock is 1.67, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 1 which endorses a Strong Buy on the stock. However, 4 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

ArcelorMittal (MT) : The most positive equity analysts on ArcelorMittal (MT) expects the shares to touch $9, whereas, the least positive believes that the stock will trade at $6 in the short term. The company is covered by 5 Wall Street Brokerage Firms. The average price target for shares are $7.63 with an expected fluctuation of $1.12 from the mean.


Also, JP Morgan upgrades its rating on ArcelorMittal (NYSE:MT). Analysts at the JP Morgan have a current rating of Neutral on the shares. The shares were previously rated Underweight. The rating by the firm was issued on August 19, 2016.

ArcelorMittal (NYSE:MT): After opening at $5.54, the stock dipped to an intraday low of $5.49 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $5.66 and the buying power remained strong till the end. The stock closed at $5.61 for the day, a gain of 1.81% for the day session. The total traded volume was 19,070,642. The stocks close on the previous trading day was $5.51.

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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