Brokerage Firm Rating Update on ArcelorMittal (MT)

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.

ArcelorMittal (MT) : The highest short term price target forecast on ArcelorMittal (MT) is $9 and the lowest target price is $6. A total of 5 equity analysts are currently covering the company. The average price of all the analysts is $7.63 with a standard deviation of $1.12.


For the current week, the company shares have a recommendation consensus of Buy. Also, JP Morgan upgrades their rating on the shares of ArcelorMittal (NYSE:MT). The current rating of the shares is Neutral. Earlier, the shares were rated a Underweight by the brokerage firm. The rating by the firm was issued on August 19, 2016.

ArcelorMittal (NYSE:MT): The stock was completely flat for the day, closing at $6.31 on Wednesday. The flat closing masks the intraday volatility in the stock. After opening at $6.29, the stock touched an intraday high of $6.36 and a low of $6.25. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $6.31. The total trading volume on Wednesday was 10,868,973.

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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