ArcelorMittal: Oddo cuts target price
(CercleFinance.com) - While maintaining its "outperform" rating on ArcelorMittal shares, Oddo has reduced its target price for them to 50 euros (vs.
52 euros previously).
The broker is also reducing its Q3 2021 EBITDA estimate, saying that ArcelorMittal's deliveries could reflect the slowdown in the automotive segment in Europe and North America.
Analysts are also lowering their EBITDA forecast for the next few years from 22 billion dollars to 20.7 billion dollars in 2021, from 16.1 billion dollars to 15.2 billion dollars in 2022, and from 10.7 billion dollars to 10.2 billion dollars in 2023.
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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.
52 euros previously).
The broker is also reducing its Q3 2021 EBITDA estimate, saying that ArcelorMittal's deliveries could reflect the slowdown in the automotive segment in Europe and North America.
Analysts are also lowering their EBITDA forecast for the next few years from 22 billion dollars to 20.7 billion dollars in 2021, from 16.1 billion dollars to 15.2 billion dollars in 2022, and from 10.7 billion dollars to 10.2 billion dollars in 2023.
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.