Analyst Dominic OKane of J.P. Morgan maintained a Hold rating on ArcelorMittal (0RP9 – Research Report), retaining the price target of €30.50.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Dominic OKane has given his Hold rating due to a combination of factors surrounding ArcelorMittal’s potential acquisition of the Calvert mill. The acquisition is contingent on Nippon’s completion of its purchase of US Steel, which requires US approval. This uncertainty adds a level of risk to the transaction, influencing the Hold rating.
Additionally, while the acquisition could be financially beneficial, increasing ArcelorMittal’s EBITDA and fair value, the current reliance on supply chains subject to import tariffs presents challenges. The strategic and financial benefits are balanced by these risks, leading to a cautious outlook. Therefore, the Hold rating reflects both the potential upsides and the existing uncertainties in the market environment.
According to TipRanks, OKane is a 4-star analyst with an average return of 4.5% and a 54.15% success rate.
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue