ArcelorMittal: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF maintains its "buy" rating on the ArcelorMittal share and has raised its corresponding target price from 11 euros to 15 euros, after the broker increased its earnings estimates for the steel giant in 2020-2021.
The objective of a concomitant drop in deliveries and costs is credible, the broker believes, the day after the group published its Q1 results, adding that Q2 EBITDA should fall by less than expected.
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