(News Bulletin 247) – UBS announced on Wednesday that it had raised its recommendation on ArcelorMittal from ‘sell’ to ‘buy’ with a price target raised from 26 to 30.7 euros, i.e. a potential upside of 16% compared to the price. closing last night.
The intermediary notes that the stock has lost around 15% in the past three months, despite the recovery of the spreads on steel and an improvement in the long-term outlook.
The analysts of the Swiss bank therefore say they expect a dynamic of “favorable” results in the first and second quarters, driven by the rise in prices, the recovery in volumes and the drop in energy costs.
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