0531 GMT--ArcelorMittal (MT) first-quarter Ebitda of $927 million beat consensus of $914 million but missed Jefferies' forecast of $945 million. Jefferies analyst Seth Rosenfeld said the "numbers are broadly in line with expectations." He notes that the NAFTA division was a "standout performer" while Europe and Brazil were a slight miss to consensus. Rosenfeld is "slightly surprised" ArcelorMittal didn't raise its 2016 Ebitda guidance of more than $4.5 billion given the recent rise in steel prices but noted ArcelorMittal doesn't necessarily need to revise the guidance since it's open-ended. He's keen to hear from management on when they expect the recent steel price rises to impact earnings. Jefferies has a buy rating and EUR6.25 target price.alex.macdonald@wsj.com)

 

(END) Dow Jones Newswires

May 06, 2016 01:52 ET (05:52 GMT)

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