JPMorgan cuts target for Aperam stock to EUR 55.50

Published on 10/21/2026 at 10:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Aperam expects adjusted EBITDA below EUR 130.00 million in the third quarter. Aperam stock costs EUR 37.38, 1.08 percent above the Xetra close.

Analyst target meets cautious outlook

JPMorgan lowered its Aperam target from EUR 57.00 to EUR 55.50 on October 15, 2026.
Aperam expects adjusted EBITDA below EUR 130.00 million for the third quarter of 2026.
Aperam stock trades at EUR 37.38 at 10:31 a.m. CEST at Lang & Schwarz on October 21, 2026, 1.08 percent above the Xetra close of October 20, 2026.

Aperam, LU0569974404, Illustration mit AI erstellt.

Aperam (ISIN LU0569974404) was trading at EUR 37.38 at Lang & Schwarz on October 21, 2026, at 10:31 a.m. CEST, up 1.08 percent versus the Xetra close of October 20, 2026 at EUR 36.98. Markets Insider reported on October 15, 2026 that JPMorgan analyst Dominic O'Kane lowered the target from EUR 57.00 to EUR 55.50 while keeping an Overweight rating.

Three dates set the frame

On July 30, 2026, Aperam reported first-half revenue of EUR 3.264 billion, adjusted EBITDA of EUR 249.00 million and net income of EUR 119.00 million, according to Ideal Investisseur. On October 6, 2026, the company indicated that third-quarter adjusted EBITDA would be below the EUR 130.00 million recorded in the second quarter but above the EUR 90.00 million recorded in the first quarter. On October 15, 2026, Markets Insider reported JPMorgan's target reduction to EUR 55.50.

What does the outlook mean for margins?

The guidance puts the second-quarter result at the upper comparison point for the next report. The first-half figures also show that the EUR 3.264 billion revenue base came with EUR 249.00 million of adjusted EBITDA, while the third-quarter outlook points to a sequential step down from EUR 130.00 million.

Upcoming dates for Aperam

Aperam is scheduled to publish third-quarter and nine-month results on November 6, 2026, before market opening, followed by a conference at 2:00 p.m. CET. The company also plans an investor day in Paris on November 18, 2026, according to Ideal Investisseur.

Stock price and investor view

The immediate question is whether the upcoming results can narrow the gap between the cautious third-quarter outlook and the longer-term analyst valuation. JPMorgan's EUR 55.50 target stands EUR 18.12 above the current Lang & Schwarz price, while the next company dates provide concrete checkpoints for the operating update.

The stock was trading at EUR 37.38 at Lang & Schwarz on October 21, 2026, at 10:31 a.m. CEST, plus 1.08 percent versus the Xetra close of October 20, 2026 at EUR 36.98. The further course of trading is shown by the continuously updated real-time quote of Aperam stock.