ArcelorMittal : Another cut in our estimates due to operational setbacks and difficult macro. Target price adjusted down to € 32
>Forecasts for Q2 and Q3 lowered due to various incidents (mainly in Mexico) - Whilst at the end of Q1 the group had guided for Q2 to be flat q-o-q, it has seen internal and external challenges multiply over recent months. We are therefore lowering our Q2 adjusted EBITDA forecast by 8% to $ 1.74bn after having already adjusted it down by 6% on 20 June following a previous company contact. The 10% decline vs $ 1.96bn in Q1 reflects the deterioration in world steel pri...ArcelorMittal is a steel company, based in Luxembourg, with operations in more than 60 countries. Co. is active in all major global steel markets, including automotive, construction, household appliances and packaging, as well as activities in Research & Development and technology, with captive supplies of raw materials and its own distribution network. Co. has an industrial presence in over 20 countries spanning four continents, covering key steel markets, from emerging to mature. Co. offers a complete spectrum of steel products from commodity steel to value-added products, from long products to flat, from standard to specialty products, from carbon steel to stainless steel and alloys.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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