ArcelorMittal: Credit Suisse adopts first buy rating
(CercleFinance.com) - In a report on the European steel industry, Credit Suisse has begun to monitor the ArcelorMittal share with a buy ("outperform") rating and a target price of 29 dollars.
Analysts list their arguments: first, "net we expect a steel market turnaround over the next six months". Then, after two years marked by growth investments, ArcelorMittal's cash generation should improve. Finally, analysts say that the group's recent acquisitions (ILVA, Essar) deserve a better appreciation by the market.
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