ArcelorMittal’s sales and earnings continue to decline in the third quarter. The minus is not as high as in the previous quarter. The pandemic is still making itself felt, however, and the market environment remains challenging. The global economic stimulus programs could be helpful for future business development.
Nord LB analysts upgrade ArcelorMittal’s shares. So far there has been a hold recommendation for the stock, the target price was EUR 10.00. In the new study, the price target for ArcelorMittal shares rises to EUR 18.00. The new rating is “buy”.
Thanks to the new vaccines, the analysts are again more positive. You expect a loss per share of 2.13 euros in 2020. In 2021 there should be earnings per share of EUR 0.82.
ArcelorMittal’s shares gain 0.8 percent to 15.362 euros.
Security data: ArcelorMittal
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Ticker symbol: ARRD
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