Morgan Stanley downgraded ArcelorMittal (MT) to Equal Weight from Overweight with a EUR 29.80 price target The rally has been galvanized by heightened optimism of a potential Russia-Ukraine peace deal, alongside perceived positive consequences on overall economic sentiment in Europ, but while ArcelorMittal is seen as a direct beneficiary from a potential Ukraine reconstruction given its asset footprint in the country, the equity re-rating is disproportionate vs. the potential earnings impact from higher Ukraine shipments, the analyst tells investors in a research note.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MT:
- Trump Trade: President says today ‘the big one’ as reciprocal tariffs come
- Trump says ‘Today is the big one: Reciprocal tariffs!’
- Trump Trade: Ford CEO warns Congress of ‘devastating’ tariff impact
- Trump may use 1930 trade law for reciprocal U.S. tariffs, Reuters says
- ArcelorMittal price target raised to EUR 29.80 from EUR 29.50 at Morgan Stanley