Wednesday, May 16, 2018

ArcelorMittal Seeing The Fruits Of The Cycle

The last year has been good for most steel companies. Not surprisingly, ArcelorMittal (MT) shares have done well, with the stock up almost 5x from its 2016 lows and up about 40% over the past year as higher steel prices boost revenue and EBITDA. What's more, the steel market continues to look relatively healthy, and ArcelorMittal has a few of its own drivers that could support a higher price from here.

The good times won't last forever, but it does look like these shares have more room to appreciate. Although I'd at least consider stocks like Acerinox (OTCPK:ANIOY), Steel Dynamics (STLD), Ternium (TX), and voestalpine (OTCPK:VLPNY), I can't argue that ArcelorMittal's valuation isn't interesting relative to its current prospects.

Read the full article here:
ArcelorMittal Seeing The Fruits Of The Cycle

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