ArcelorMittal Upgraded to Overweight at HSBC (MT)
ArcelorMittal (EPA:MT) was upgraded by equities research analysts at HSBC to an “overweight” rating in a research note issued to investors on Wednesday, AR Network reports.
Separately, analysts at RBC Capital upgraded shares of ArcelorMittal from a “sector perform” rating to an “outperform” rating in a research note to investors on Tuesday, January 28th. They now have a €16.00 ($21.62) price target on the stock, up previously from €11.00 ($14.86). Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. ArcelorMittal presently has a consensus rating of “Hold” and an average target price of €12.59 ($17.02).
Shares of ArcelorMittal (EPA:MT) traded up 1.62% on Wednesday, hitting €12.245. The stock had a trading volume of 13,073,039 shares. ArcelorMittal has a 1-year low of €8.354 and a 1-year high of €13.40. The stock has a 50-day moving average of €18. and a 200-day moving average of €18..
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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