ArcelorMittal (MT) Receives Price Target

ArcelorMittal (MT) : Currently there are 5 street experts covering ArcelorMittal (MT) stock. The most bullish and bearish price target for the stock is $9 and $6 respectively for the short term. The average price target of all the analysts comes to $7.63. The estimated standard deviation from the target is $1.12.

ArcelorMittal (MT) : 4 brokerage houses believe that ArcelorMittal (MT) is a Strong Buy at current levels. 2 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.The median of all the 6 Wall Street Analysts endorse the stock as a Buy with a rating of 1.67.


Also, In the latest statement by the brokerage house, JP Morgan upgrades its outlook on ArcelorMittal (NYSE:MT). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Underweight. The rating by the firm was issued on August 19, 2016.

ArcelorMittal (NYSE:MT): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.89 and $5.82 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.98. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.97, notching a gain of 2.05% for the day. The total traded volume was 9,712,193 . The stock had closed at $5.85 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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.