FTSE 100 today: closes higher as UK inflation surprises; GBP lower, Ithaca report
ArcelorMittal (NYSE:MT) SA ADR stock has reached a 52-week high, touching 35.03 USD. With a market capitalization of $26.7 billion and a P/E ratio of 10.85, InvestingPro analysis suggests the stock remains undervalued despite the recent surge. This milestone reflects a significant upward trend for the company, which has seen its stock price increase by nearly 50% year-to-date. The steel manufacturing giant’s performance has been bolstered by robust demand and strategic operational efficiencies, pushing its stock to this new high. Investors have shown increased confidence in ArcelorMittal’s growth prospects, supported by its GOOD Financial Health Score from InvestingPro. Discover 10+ additional exclusive insights and detailed valuation metrics with an InvestingPro subscription, including the comprehensive Pro Research Report available for this leading metals and mining player.
In other recent news, ArcelorMittal’s financial outlook has been a focal point for several investment firms. Deutsche Bank (ETR:DBKGn) increased its price target for ArcelorMittal to EUR31.00, maintaining a Buy rating, and anticipates sequential improvement in the company’s second-quarter results due to favorable spreads in Europe. Meanwhile, KeyBanc held its Sector Weight rating on ArcelorMittal, adjusting its 2025 earnings per share estimate to $4.00, influenced by the euro’s appreciation against the U.S. dollar. Conversely, Barclays (LON:BARC) downgraded ArcelorMittal from Overweight to Equalweight, suggesting that the recent 41% rally in share price has already accounted for the company’s positive outlook. Wells Fargo (NYSE:WFC) initiated coverage on ArcelorMittal with an Equal Weight rating and a price target of $33.00, applying a valuation multiple above the company’s historical averages. Additionally, ArcelorMittal South Africa is in discussions with the government over the potential closure of its Newcastle steel mill, which is currently unprofitable. These developments highlight the varied perspectives of investment firms on ArcelorMittal’s financial trajectory.
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