ArcelorMittal: Jefferies maintains 'buy' rating
(CercleFinance.com) - Jefferies reinstates its 'buy' recommendation on ArcelorMittal, along with a target price of 40 euros, after a day of meetings with Australian investors and steel giant executives.
"Despite automotive slowdown, MT remains optimistic on the overall demand picture and contract negotiation impact to 2022 earnings," the broker says.
" Growth targets remain on what's already in the portfolio and decarbonisation continues to be a major theme in evaluating not only corporate strategy but investment cycle," it continues.
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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.
"Despite automotive slowdown, MT remains optimistic on the overall demand picture and contract negotiation impact to 2022 earnings," the broker says.
" Growth targets remain on what's already in the portfolio and decarbonisation continues to be a major theme in evaluating not only corporate strategy but investment cycle," it continues.
Copyright (c) 2021 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.