GVteD schreef op 24 september 2015 22:44:
Zacks Upgrades ArcelorMittal SA to “Buy” (MT)
September 24th, 2015
ArcelorMittal SA (NYSE:MT) was upgraded by Zacks from a “hold” rating to a “buy” rating in a research note issued on Tuesday, AnalystRatingsNetwork.com reports. The brokerage presently has a $7.25 target price on the stock. Zacks‘s price target suggests a potential upside of 24.14% from the stock’s current price.
According to Zacks, “ArcelorMittal’s earnings for the second quarter of 2015 beat the Zacks Consensus Estimate. Revenues fell by double-digits on lower steel pricing, but came ahead of expectations. ArcelorMittal continues to contend with soft economic conditions in Europe and China, volatility in steel prices and tough competition. We are impressed by the growth opportunities arising from acquisitions and emerging markets as well as the company’s efforts to cut debt and reduce costs.”
Several other equities research analysts have also recently commented on MT. Credit Suisse reissued an “outperform” rating and set a $15.00 price target (up from $11.50) on shares of ArcelorMittal SA in a research report on Wednesday, June 3rd. Jefferies Group decreased their target price on shares of ArcelorMittal SA to $10.00 and set a “hold” rating for the company in a report on Tuesday, July 21st. ABN Amro upgraded shares of ArcelorMittal SA from an “add” rating to a “buy” rating in a research note on Wednesday, August 5th. Cowen and Company cut their target price on shares of ArcelorMittal SA from $14.00 to $13.00 in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. began coverage on shares of ArcelorMittal SA in a report on Thursday, August 27th. They set a “neutral” rating on the stock. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.64.