ArcelorMittal price target raised to EUR 65 from EUR 62 at Jefferies

In a preview ahead of the company's Q2 earnings report, Jefferies analyst Cole Hathorn raised the firm's price target on ArcelorMittal to EUR 65 from EUR 62 and keeps a Buy rating on the shares. The firm sees ArcelorMittal benefiting from "structurally higher mid-term earnings and multiples" versus its history, and continues to prefer the company in "risk-on upside scenario."