Home > Analyse
Actualite financiere : Actualite bourse

ArcelorMittal: Oddo downgrades stock

(CercleFinance.com) - Oddo has downgraded its buy recommendation on the ArcelorMittal share to reduce.


The broker expects a difficult end of the year to 2019, which gives a dim outlook for 2020. As a result, the broker has set its target price at 12 euros - note the share is down almost 6% today.

Oddo forecasts Q3 2019 to be more difficult than expected for ArcelorMittal. Analysts expect Q3 2019 EBITDA of 900 million dollars (vs. 1.375 billion dollars previously), as difficulties faced by the group in North America may be extrapolated to most other steel divisions.

It expects to (further) reduce its expectations for 2019 and 2020e, having raised its expectation of the negative scissors effect - it now expects EBITDA of 5.0 billion dollars (vs. the consensus of 6.2 billion dollars).


Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.