Acerinox stock gains 1.17 percent after Citi raises target

Published on 10/03/2026 at 22:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Acerinox stock has a Citi target of EUR 20, up from EUR 18 on September 15, 2026. H1 2026 net income reached EUR 77 million after a EUR 18 million loss.

Aquarellillustration der Madrider Skyline bei Sonnenuntergang mit Hochhäusern — Aquarellmalerei der Madrider Skyline symbolisiert den Sitz von Acerinox S.A. (ISIN ES0132105018) nahe IBEX 35, Illustration mit AI erstellt.

Acerinox stock (ISIN ES0132105018) was last at EUR 17.27 on the BME on October 2, 2026, at 5:35 p.m. CEST, up 1.17 percent on the session. The immediate catalyst is Citi's revised valuation, which lifted the price target to EUR 20 from EUR 18 on September 15, 2026, while keeping its buy recommendation, Bolsamania reported.

Citi lifts the valuation bar

Citi's target revision gives Acerinox a higher benchmark after the stainless-steel producer's earnings recovery. The target moved EUR 2 higher, while the stock's October 2 price remained EUR 2.73 below that level.

The valuation call followed stronger operating expectations for European steelmakers. Bolsamania said Citi raised its 2026 and 2027 EBITDA estimates for European mid-cap steel companies by 3 percent to 8 percent, while warning that higher coking-coal costs could offset part of the margin benefit.

Profit recovery supplies the evidence

Acerinox reported EUR 77 million in net income for the first half of 2026, compared with a EUR 18 million loss in the first half of 2025. EBITDA reached EUR 271 million, 27 percent above the year-earlier period, according to Estrategias de Inversion.

The shift from a loss to profit is the central operating comparison behind the higher target. The company said its United States business and improving European market supported the result, while the earnings improvement still leaves Acerinox exposed to steel prices, raw-material costs and demand swings.

Q3 results set the next checkpoint

Acerinox is scheduled to publish third-quarter 2026 results on October 30, 2026, according to Marketscreener. That report will test whether the first-half improvement can continue into the second half and support the assumptions behind the EUR 20 target.

Stock remains below its yearly high

At EUR 17.27 on October 2, 2026, Acerinox stock was EUR 1.31 below its 52-week high of EUR 18.58 and stood above its 52-week low of EUR 11.03. Its market capitalization was EUR 4.3 billion, with 467,352 shares traded on the session.