J.P. Morgan upgrades ArcelorMittal (0RP9) to a Hold

In a report released today, Dominic OKane from J.P. Morgan upgraded ArcelorMittal to a Hold, with a price target of €57.00.

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According to TipRanks, OKane is a 4-star analyst with an average return of 4.0% and a 56.40% success rate. OKane covers the Basic Materials sector, focusing on stocks such as Anglo American, Rio Tinto, and Glencore.

In addition to J.P. Morgan, ArcelorMittal also received a Hold from UBS’s Andrew Jones CFA in a report issued on July 8. However, on July 7, Deutsche Bank maintained a Buy rating on ArcelorMittal (LSE: 0RP9).

0RP9 market cap is currently €39.87B and has a P/E ratio of 15.95.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of 0RP9 in relation to earlier this year.