ArcelorMittal Rating Increased to Outperform at Macquarie (MT)
ArcelorMittal (EPA:MT) was upgraded by investment analysts at Macquarie from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, Stock Ratings Network.com reports.
Shares of ArcelorMittal (EPA:MT) traded up 3.44% during mid-day trading on Monday, hitting €11.285. The stock had a trading volume of 14,073,830 shares. ArcelorMittal has a 52 week low of €8.354 and a 52 week high of €13.755. The stock has a 50-day moving average of €18. and a 200-day moving average of €18..
Separately, analysts at RBC Capital downgraded shares of ArcelorMittal from a “sector outperform” rating to a “sector perform” rating in a research note to investors on Monday, September 23rd. They now have a €11.00 ($14.86) price target on the stock, down previously from €14.00 ($18.92). Four research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of €12.39 ($16.74).
ArcelorMittal SA is a Luxembourg-based company involved in the mining and steel industry. In 2011, the Company had crude steel production of 91.
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