ArcelorMittal: UBS still buying after quarterly results
(CercleFinance.com) - UBS confirms its 'buy' recommendation on ArcelorMittal shares, as well as its target price of E26.
5, implying 15% upside potential for the stock, the day after the steel giant's quarterly results.
While it considers its EBITDA 6% ahead of expectations to be 'normal for ArcelorMittal', the broker sees it as positive in the midst of profit warnings in the sector: the absence of profit warnings is reassuring, 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
5, implying 15% upside potential for the stock, the day after the steel giant's quarterly results.
While it considers its EBITDA 6% ahead of expectations to be 'normal for ArcelorMittal', the broker sees it as positive in the midst of profit warnings in the sector: the absence of profit warnings is reassuring, it continues.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.