ArcelorMittal: stock on the rise, a broker’s analysis – 03/16/2023 at 17:15


(CercleFinance.com) – ArcelorMittal takes nearly 2% in Amsterdam, while Oddo maintains its ‘outperformance’ rating on the stock with a price target raised from 35 to 36 euros.

Even if uncertainties remain regarding the global economy with the bankruptcy of several banking institutions in the United States, Oddo anticipates an EBITDA of $1.56 billion in Q1 (i.e. +24%) and $2.1 billion in Q2 (i.e. +34 %), thanks to dynamic volumes and rising prices before normalizing in Q3 (-9%) and Q4 (-2%), with the decline in prices.

“We have therefore increased our 2023 forecast by 15% to $7.58 billion, which puts us 7% above the consensus. Our forecasts for 2025 are at this stage little modified (+2%) in the face of uncertainties’, concludes the broker.



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