Goldman Sachs lifts target for ArcelorMittal stock from EUR 48 to EUR 54

Published on 10/07/2026 at 10:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kepler Cheuvreux cut its target from EUR 73 to EUR 72 on October 6, 2026. ArcelorMittal stock costs EUR 57.10 versus EUR 57.93, minus 1.43 percent.

Aquarellmalerei der Luxemburger Altstadt mit Türmen und grünem Tal — ArcelorMittal S.A. (LU1598757687) hat seinen Firmensitz in Luxemburg, hier zart als Aquarell-Stadtansicht dargestellt, Illustration mit AI erstellt.

ArcelorMittal (ISIN LU1598757687) was trading at EUR 57.10 at Lang & Schwarz on October 7, 2026 at 10:04 a.m. CEST, down 1.43 percent versus the prior close of EUR 57.93. On October 6, 2026, Goldman Sachs raised its target from EUR 48 to EUR 54 while keeping a neutral rating, according to Ideal Investisseur.

Analyst targets split sharply

The Goldman Sachs move contrasts with Kepler Cheuvreux, which cut its target from EUR 73 to EUR 72 on October 6, 2026, while retaining a Buy rating, Ideal Investisseur reported.

The EUR 19.00 gap between the two targets highlights a divided valuation view. Goldman Sachs sees a lower level than the Lang & Schwarz price, while Kepler Cheuvreux's target remains higher, leaving steel prices, European demand and margin recovery as the central variables for the shares.

First-half figures set the base

ArcelorMittal reported USD 32.2 billion of revenue and USD 3.7 billion of EBITDA for the first half of 2026, with an EBITDA margin of 11.60 percent, according to Ideal Investisseur. The company also reported USD 1.3 billion of net income and negative free cash flow of USD 1.5 billion for that period.

The operating picture improved during the second quarter of 2026. Structured financial data show revenue of USD 16.8 billion, net income of USD 687.0 million and an operating profit of USD 1.1 billion, compared with USD 15.5 billion of revenue, USD 581.0 million of net income and USD 753.0 million of operating profit in the first quarter.

Ukraine remains the key risk

ArcelorMittal said on September 25, 2026, that it could not safely and sustainably restart its Kryvyi Rih operations after four missile strikes, according to GlobeNewswire. The attacks killed five employees and injured 17, while the company is preserving the infrastructure for a possible future restart.

The combination of improving first-half profitability and Ukrainian operational disruption explains the wide analyst range. For investors, the next price response depends on whether European steel pricing can offset the risk of further asset charges and weaker regional demand.

Stock stays below analyst targets

ArcelorMittal's market capitalization was USD 49.6 billion and its primary-market 52-week range was USD 36.70 to USD 79.68 as of October 6, 2026. The stock is listed on Euronext Amsterdam under ticker MT.AS, while the Lang & Schwarz quote provides the euro reference for German investors.

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