(Boursier.com) — ArcelorMittal stabilized at 26.35 euros after the presentation of its quarterly accounts. The steel giant announced a strong increase in results, exceeding market expectations in the first quarter, as well as the purchase of 1 billion dollars of additional shares. Among the latest advice from brokers, Deutsche Bank has adjusted the target from 48 to 49 euros with a buy advice. Citi explained for its part that the performance was better than expected thanks to operational efficiency that was stronger than anticipated.
ArcelorMittal forecasts suggest a higher Ebitda which could lead to a rise in the consensus… Despite the downward revision of the outlook for global steel consumption for 2022, Morgan Stanley (‘overweight’) expects a slight higher guidance and a strong Q2 thanks to a modest improvement in deliveries and delayed price increases to mitigate cost inflation…
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