ArcelorMittal stock: JPMorgan raises target to EUR 70.00 for ArcelorMittal stock

Published on 10/21/2026 at 15:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached USD 16.76 billion on July 30, 2026. ArcelorMittal stock costs EUR 56.46 on October 21, 2026.

Analyst target and reporting date

JPMorgan raised its ArcelorMittal target to EUR 70.00 from EUR 57.00 on October 15, 2026.
Second-quarter 2026 revenue reached USD 16.76 billion, up 8.40 percent year over year.
ArcelorMittal stock costs EUR 56.46 at Lang & Schwarz on October 21, 2026 at 3:18 p.m. CEST.
Next earnings are scheduled for November 5, 2026.

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JPMorgan upgraded ArcelorMittal to Overweight from Neutral and raised its price target to EUR 70.00 from EUR 57.00 on October 15, 2026, according to Investing.com. The new target is 23.98 percent above the EUR 56.46 price at Lang & Schwarz on October 21, 2026 at 3:18 p.m. CEST.

Second-quarter revenue improved

ArcelorMittal reported USD 16.76 billion in second-quarter 2026 revenue, up 8.40 percent from USD 15.46 billion in the first quarter. The company also posted adjusted earnings of USD 0.90 per share, below the USD 1.18 consensus estimate, according to NewsNet Media and Investing.com.

USD 47.6 billion market value

ArcelorMittal had a USD 47.6 billion market capitalization as of October 20, 2026. Its NYSE price stood at USD 63.18 at 8:00 p.m. UTC on October 20, while the 52-week range was USD 36.70 to USD 79.68. The euro quotation remains the relevant view for investors in Germany.

What comes next for investors

The next earnings date is November 5, 2026, according to Simply Wall St. That date gives the market a defined checkpoint after the second-quarter revenue increase and the earnings-per-share shortfall.

Valuation leaves room for debate

ArcelorMittal traded at a trailing price-to-earnings ratio of 26.77 and paid a dividend yield of 0.01 percent as of October 20, 2026. Nucor traded at a P/E ratio of 20.85 with a USD 59.3 billion market capitalization, while Cleveland-Cliffs had a negative P/E ratio and a USD 7.8 billion market capitalization on the same date.

Euro price remains central

The combination of higher quarterly revenue and earnings below consensus leaves the EUR 70.00 target as the clearest near-term valuation reference. The stock was trading at EUR 56.46 at Lang & Schwarz on October 21, 2026 at 3:18 p.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of ArcelorMittal stock.