ArcelorMittal Stock Rating Reaffirmed by Main First Bank AG (MT)

ArcelorMittal (EPA: MT)‘s stock had its “underperform” rating restated by stock analysts at Main First Bank AG in a report issued on Wednesday, Analyst Ratings.Net reports. They currently have a €9.00 ($11.69) target price on the stock.

ArcelorMittal (EPA: MT) traded down 3.02% on Wednesday, hitting €9.117. ArcelorMittal has a 1-year low of €8.52 and a 1-year high of €13.755. The stock’s 50-day moving average is currently €12.0.

Several other analysts have also recently commented on the stock. Analysts at Nomura reiterated a “buy” rating on shares of ArcelorMittal in a research note to investors on Wednesday, June 5th. They now have a €10.50 ($13.64) price target on the stock. Separately, analysts at Kempen & Co reiterated a “buy” rating on shares of ArcelorMittal in a research note to investors on Tuesday, June 4th. They now have a €14.00 ($18.18) price target on the stock. Finally, analysts at BNP Paribas reiterated a “neutral” rating on shares of ArcelorMittal in a research note to investors on Tuesday, May 28th. They now have a €11.00 ($14.29) price target on the stock.

Three research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of €13.39 ($17.40).

ArcelorMittal SA is a Luxembourg-based company involved in the mining and steel industry. In 2011, the Company had crude steel production of 91.

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