Deutsche Bank Maintains a 'Hold' on Arcelor Mittal (MT); Balanced Risk-Reward

Deutsche Bank maintains a 'Hold' on Arcelor Mittal (NYSE: MT) price target of $22.00.

Deutsche analyst says, "ArcelorMittal is the global steel leader with production on five continents. We believe it is well positioned to benefit from emerging consumption trends as these develop. Its product exposure spans both flat and long steels and it has a leading global position in value-added and attractive markets such as automotive. MT owns and operates iron ore mines in Kazakhstan, Ukraine and North America which, along with strategic contracts, supply nearly 50% of its iron ore requirements (at normalized production levels). Also, its mining position (including coal) provides the company with significant leverage to rising steel prices, and the company has among the best long-term growth profiles (steel / mining) within our coverage. Longer term, we regard MT's competitive assets and cyclical exposure as attractive and the company should generate above-average margins because of its integrated business model and cost support for steel prices. However, we rate MT a Hold given a balanced risk-reward and preference to other companies in the sector."

For an analyst ratings summary and ratings history on Arcelor Mittal click here. For more ratings news on Arcelor Mittal click here.

Shares of Arcelor Mittal closed at $19.49 yesterday.

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