Jefferies Upgrades Arcelor Mittal (MT) to Buy

Jefferies upgraded Arcelor Mittal (NYSE: MT) from Hold to Buy with a $7 price targe.t

Analyst Seth Rosenfeld commented, "While MT shares have already recovered from a deep Q1 trough driven by successful steps to de-risk its balance sheet and exposure to a US price recovery, turnaround in MT's principal European market is not yet priced into shares and should drive upside to cons ests (JEFe EBITDA FY16 $5.0, FY17 $6.0b)."

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 $5.87 yesterday.

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