Jefferies Raises ArcelorMittal to Buy, Cites Stronger EU Steel Outlook
Jefferies upgraded ArcelorMittal (MT) from Hold to Buy and increased its price target to EUR62.00 from EUR44.00, pointing to a structurally stronger outlook for European steel driven by policy changes. The firm projects substantially higher 2027 EBITDA and expects EU production rates and prices to rise as import flows decline under new tariff rules…