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ArcelorMittal (0RP9) Gets a Buy from Morgan Stanley

Tipranks - Tipranks - Thu Aug 6, 3:02AM CDT

In a report released today, Alain Gabriel from Morgan Stanley maintained a Buy rating on ArcelorMittal, with a price target of €70.00.

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According to TipRanks, Gabriel is a 5-star analyst with an average return of 16.2% and a 63.94% success rate.

In addition to Morgan Stanley, ArcelorMittal also received a Buy from Barclays’s Amos Fletcher in a report issued yesterday. However, on July 31, UBS maintained a Hold rating on ArcelorMittal (LSE: 0RP9).

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Based on ArcelorMittal’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of €16.76 billion and a net profit of €683 million. In comparison, last year the company earned a revenue of €15.93 billion and had a net profit of €1.79 billion

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.

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