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ArcelorMittal (MT) +2% premarket after shares are upgraded to Overweight from Neutral at HSBC,...
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Tuesday, May 29, 2012, 8:49 AM ETArcelorMittal (MT) +2% premarket after shares are upgraded to Overweight from Neutral at HSBC, as the firm believes the long-term steel outlook shows signs of improvement while global flat steel demand remains depressed. The firm cuts MT's estimates to account for H2 2012 risks, but finds the stock attractive as it discounts a very bleak scenario.
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