ArcelorMittal (MT) : Analyst Rating Update

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 Buy with a rank of 2. 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) : Currently there are 5 street experts covering ArcelorMittal (MT) stock. The most bullish and bearish price target for the stock is $7 and $5 respectively for the short term. The average price target of all the analysts comes to $6.18. The estimated standard deviation from the target is $0.9.

ArcelorMittal (NYSE:MT): The stock opened at $4.55 on Wednesday but the bulls could not build on the opening and the stock topped out at $4.69 for the day. The stock traded down to $4.51 during the day, due to lack of any buying support eventually closed down at $4.69 with a loss of -0.64% for the day. The stock had closed at $4.72 on the previous day. The total traded volume was 7,416,604 shares.

Also, Citigroup upgrades its view on ArcelorMittal (NYSE:MT) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Earlier, the shares had a rating of Neutral. Citigroup raises the price target from $5 per share to $5.4 per share on ArcelorMittal. The rating by the firm was issued on June 1, 2016. The company shares have dropped -46.97% from its 1 Year high price. On Aug 10, 2015, the shares registered one year high at $9.71 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $4.89 and the 200 Day Moving Average price is recorded at $4.50.

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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