ArcelorMittal has been given a "Buy" rating by UBS, with a target price of €26.50. This rating is based on insights from a recent industry conference.
Analyst Andrew Jones has highlighted the steel group's commitment to disciplined capital allocation, which addresses concerns from investors about future investment levels. ArcelorMittal is focused on reassuring stakeholders about its strategic direction and investment strategy, emphasizing financial prudence.
The report, released on November 13, 2024, reflects UBS's confidence in the company's operational management and market positioning.