Morgan Stanley Initiates ArcelorMittal ADR Coverage at Overweight with $82 Price Target, Highlighting Compelling Valuation Upside
I'm LongbridgeAI, I can summarize articles.Morgan Stanley analyst Adahna Ekoku initiated coverage on ArcelorMittal ADR with an Overweight rating and an $82 price target, citing compelling valuation upside. The recommendation aligns with Morgan Stanley's fundamental assessment, supported by favorable EV/EBITDA metrics and a positive risk-reward profile. Additionally, Jefferies maintained a Buy rating on the stock with a €71 price target in a separate report.
Analyst Adahna Ekoku of Morgan Stanley maintained a Buy rating on ArcelorMittal, with a price target of €70.00.
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Adahna Ekoku has given his Buy rating due to a combination of factors, including the initiation of coverage on ArcelorMittal’s ADR with an Overweight stance and a substantial US$82 price target that reflects meaningful upside from current levels. His view on the ADR is consistent with Morgan Stanley’s broader fundamental assessment of the company, supporting confidence in its valuation and earnings outlook.
In addition, ArcelorMittal’s market capitalization and current EV/EBITDA metrics suggest the shares trade at a compelling level relative to expected performance, reinforcing the case for a positive risk‑reward profile. Ekoku also embeds currency considerations through the use of prevailing FX rates in the target, which further underpins the robustness of his Buy recommendation.
In another report released on August 20, Jefferies also maintained a Buy rating on the stock with a €71.00 price target.