ArcelorMittal: Jefferies maintains 'buy' rating

(CercleFinance.com) - Jefferies reinstates its 'buy' recommendation on ArcelorMittal, along with a target price of 40 euros, after a day of meetings with Australian investors and steel giant executives.


"Despite automotive slowdown, MT remains optimistic on the overall demand picture and contract negotiation impact to 2022 earnings," the broker says.

" Growth targets remain on what's already in the portfolio and decarbonisation continues to be a major theme in evaluating not only corporate strategy but investment cycle," it continues.


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