Loading...
Loading...
In a report published Wednesday, Bank of America analyst Cedar Ekblom reiterated a Buy rating and $17.55 price target on
ArcelorMittal SAMT.
In the report, Bank of America noted, “ArcelorMittal has confirmed that it is considering a JV bid with Marcegaglia (Italian re-roller) for ILVA, the challenged 10Mt integrated steel mill currently being operated by the Italian government. MT recently signed a non-binding letter of intent to look at ILVA, and the press has widely reported that MT has been considering a bid with Marcegaglia. Hence we think MT's announcement will not come as a surprise to the market.”
ArcelorMittal SA closed on Tuesday at $14.36.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in