ArcelorMittal: Barclays sets new target after stock split.
(CercleFinance.com) - Barclays has set a new target price of 16.
5 euros per share on ArcelorMittal to reflect the reverse stock split (3:1 consolidation) implemented by the company.
However, the brokerage firm maintains its "underweight" rating on the steelmaker's stock, citing downside risks to steel prices, peaking earnings momentum for the company and concerns surrounding its ability to deliver cash flow in line with market expectations.
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