JPMorgan raised target for ThyssenKrupp stock from EUR 15 to EUR 17

Published on 10/21/2026 at 11:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

JPMorgan kept its Neutral rating on October 15, 2026. ThyssenKrupp stock costs EUR 13.77 on October 21, 2026, 0.72 percent below the Xetra close.

Financial milestones and valuation

JPMorgan raised its target from EUR 15 to EUR 17 on October 15, 2026.
ThyssenKrupp Steel set a medium-term target of EUR 1.2 billion in adjusted EBITDA and an 11 percent margin on September 28, 2026.
ThyssenKrupp stock trades at EUR 13.77 at 11:05 a.m. CEST at Lang & Schwarz on October 21, 2026, 0.72 percent below the Xetra close of October 20, 2026.

ThyssenKrupp, DE0007500001, Illustration mit AI erstellt.

ThyssenKrupp (ISIN DE0007500001) was trading at EUR 13.77 at Lang & Schwarz on October 21, 2026, at 11:05 a.m. CEST, 0.72 percent below the Xetra close of October 20, 2026. MarketScreener reported that JPMorgan raised its target for the industrial group from EUR 15 to EUR 17 on October 15, 2026, while keeping a Neutral rating.

Analysts lift the valuation bar

The JPMorgan target stands 19.00 percent above the Lang & Schwarz price when measured as the price below the target. The bank cited limited room for positive earnings surprises in upcoming European steel results, while it also pointed to higher steel prices and a possible earnings acceleration in the fourth quarter of 2026 and in 2027, according to MarketScreener.

That valuation case rests partly on steel restructuring. On September 28, 2026, thyssenkrupp set a medium-term target of at least EUR 1.2 billion in adjusted earnings before interest, taxes, depreciation and amortization, an adjusted margin of at least 11 percent and positive free cash flow.

Three milestones reset the case

On September 28, 2026, ThyssenKrupp Steel set the EUR 1.2 billion adjusted earnings target and 11 percent margin goal, according to thyssenkrupp. On October 7, 2026, Jefferies raised its target from EUR 13 to EUR 16.50 and maintained a Buy rating, as reported by 4investors. On October 15, 2026, JPMorgan lifted its target from EUR 15 to EUR 17 and retained Neutral, according to the same dated report from 4investors.

What will test the targets?

The next test is whether the steel division can convert its EUR 1.2 billion adjusted earnings ambition into reported improvement. ThyssenKrupp operates across Automotive Technology, Decarbon Technologies, Materials Services, Steel Europe and Marine Systems, and its market capitalization was EUR 8.6 billion as of October 21, 2026. The broad structure creates valuation potential, but the 11 percent margin goal remains a medium-term ambition rather than a reported result.

Dates for the next checkpoints

The company calendar identifies October 22, 2026, as the start of the quiet period before annual results, according to 4investors. The annual report for fiscal year 2025/2026 is scheduled for December 8, 2026, as listed by MarketScreener.

Price holds below the close

ThyssenKrupp stock was trading at EUR 13.77 at Lang & Schwarz on October 21, 2026, at 11:05 a.m. CEST, 0.72 percent below the Xetra close of October 20, 2026. The stock's 52-week range was EUR 7.12 to EUR 15.87, placing the current quote EUR 2.10 below the high.

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