ArcelorMittal has been given a positive endorsement by UBS, which has maintained its Buy recommendation for the stock and set a price target of €26.5. This follows the company's update on its decarbonization initiatives in Europe, demonstrating a proactive approach to environmental sustainability.
The steel giant is currently waiting for more clarity on European environmental policies before finalizing its investment decisions for these projects. UBS believes that the market will respond well to this cautious stance, as it highlights the importance of having a clear understanding of regulatory frameworks to ensure competitiveness in the face of increasing production costs.