ArcelorMittal SA last = 25 EUR 1w: -2.6 (-9.5%)
% vs. spot / Price1M6M12MLT(2Y)LT(3Y)
Target Price (consensus)3.6%10.8%43.8% (35.8)--
Upside (Bull Case)4.6%13.7%55.5% (38.7)--
Downside (Bear Case)-2.7%-8%-32.4% (16.8--

I bet on ArcelorMittal's positive outlook, due to the Company's new capital allocation framework based on further deleveraging, but with a commitment to return a proportion of FCF when net debt reaches $6 bln. In the process of debt reduction, the Company are also going to invest selectively in opportunities that will provide the sustainable value creation. In addition of ArcelorMittal's US exposure, which I expect will make positive impact, I recommend to buy Company's shares.