ArcelorMittal Broadly Inline Says Jefferies -- Market Talk
06 Mai 2016 - 8:07AM
Dow Jones News
0531 GMT--ArcelorMittal (MT) first-quarter Ebitda of $927
million beat consensus of $914 million but missed Jefferies'
forecast of $945 million. Jefferies analyst Seth Rosenfeld said the
"numbers are broadly in line with expectations." He notes that the
NAFTA division was a "standout performer" while Europe and Brazil
were a slight miss to consensus. Rosenfeld is "slightly surprised"
ArcelorMittal didn't raise its 2016 Ebitda guidance of more than
$4.5 billion given the recent rise in steel prices but noted
ArcelorMittal doesn't necessarily need to revise the guidance since
it's open-ended. He's keen to hear from management on when they
expect the recent steel price rises to impact earnings. Jefferies
has a buy rating and EUR6.25 target
price.alex.macdonald@wsj.com)
(END) Dow Jones Newswires
May 06, 2016 01:52 ET (05:52 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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