Citi upgrades ArcelorMittal (MT) to Buy

January 25, 2008 8:12 AM EST
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Price: $29.18 +2.67%

Rating Summary:
    17 Buy, 10 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 73
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Citi upgrades ArcelorMittal (NYSE: MT) from Hold to Buy.

Citi analyst says, "We believe that the risks to raw material prices are on the upside and will shift ArcelorMittal further down the cost curve (allowing improved future profitability compared to its peers)."

ArcelorMittal, formerly Mittal Steel Company N.V., is a global steel producer. The Company has steel-making operations in 26 countries on four continents, including 64 integrated, mini-mill and integrated mini-mill, steel-making facilities. Specifically, Mittal Steel produces flat products, including sheet and plate, long products, including bars, rods and structural shapes, and stainless steel products.

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