LONDON (ShareCast) - Ahead of tomorrow's fourth quarter earnings presentation by ArcelorMittal (Other OTC: ARCXF.PK - news) , Credit Suisse (NYSEArca: CSMA - news) has confirmed an overweight recommendation for the steel company. Analysts at the Swiss bank expect earnings before interest, tax, depreciation and amortisation to come in at $1.6bn, which is slightly less than the consensus estimate of $1.7bn. According to Credit Suisse, the outlook for the first half of the 2012 will be key for the stock's recovery. The broker expects a first half guidance of $5bn in EBITDA, consisting of $2bn for the first quarter and $3bn for the second. "AM has been relatively weak in 2012 after a partial recovery in Q4 after the Aug/Sept 2011 share price collapse. We think the stock should now rally after a pause for breath on the back of a stronger outlook for H1 2012," the broker said. MJ.J.
Credit cards
0% balance transfers up to 24 months, 0% purchases up to 15 months - compare 200+ credit cards insta … More »Credit cards
There are no comments yet