NEW YORK (TheStreet) -- ArcelorMittal (MT) shares are up 0.5% to $14.70 in early market trading on Tuesday after being upgraded to "outperform" from "neutral" by analysts at Credit Suisse (CS) .
The firm believes that the company's outlook will improve based on its view that the worst of the iron ore price declines are in the past.
Despite the optimistic outlook, the firm also said that they need to see more signs of improvement before they throw their full weight behind the stock and therefore only raised the company's price target to $18 from $17.
TheStreet Ratings team rates ARCELORMITTAL SA as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ARCELORMITTAL SA (MT) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins."