JPMorgan raises ArcelorMittal stock target from EUR 57.00 to EUR 70.00

Published on 10/21/2026 at 10:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

JPMorgan moved its target from EUR 57.00 to EUR 70.00 on October 15, 2026. ArcelorMittal stock costs EUR 55.75 on October 21, 2026 versus EUR 68.56.

Target revision and reporting date

JPMorgan raised its target from EUR 57.00 to EUR 70.00 on October 15, 2026.
Second-quarter revenue reached USD 16.76 billion, while net income was USD 683.00 million.
ArcelorMittal stock trades at EUR 55.75 at 10:46 a.m. CEST at Lang & Schwarz on October 21, 2026.
Third-quarter results are scheduled for November 5, 2026.

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 quoted at EUR 55.75 at Lang & Schwarz on October 21, 2026 at 10:46 a.m. CEST. On October 15, 2026, Investing.com reported that JPMorgan upgraded ArcelorMittal to Overweight from Neutral and raised its price target from EUR 57.00 to EUR 70.00.

JPMorgan sees earnings recovery

The target revision came after a difficult earnings setup. JPMorgan said third-quarter consensus EBITDA estimates had been cut 10.00 percent to USD 2.00 billion because of cost inflation and operational disruptions in North America, according to the October 15 report.

The broker nevertheless projected fourth-quarter EBITDA of USD 2.40 billion and 2027 EBITDA of USD 11.10 billion. That 2027 estimate stood 5.00 percent above consensus of USD 10.60 billion, giving the target revision a specific earnings basis rather than relying only on valuation.

Three events shape the timeline

The company reported first-quarter 2026 net income of USD 575.00 million on April 30, 2026. For the second quarter, ArcelorMittal generated revenue of USD 16.76 billion and net income of USD 683.00 million, figures covered by Simply Wall St. The latest event was JPMorgan's October 15 target increase to EUR 70.00 from EUR 57.00.

When are the next dates?

MarketBeat lists November 5, 2026, as the expected date for third-quarter results. A separate Yahoo Finance listing gives November 12, 2026, as the ex-dividend date for a EUR 0.15 cash dividend.

Stock remains below yearly high

The EUR 55.75 quote stands below the EUR 68.56 52-week high and above the EUR 31.87 low, based on the October 20, 2026 market snapshot. For investors, the key test is whether the coming quarterly report can support JPMorgan's projected earnings inflection after the estimate cuts.

ArcelorMittal was trading at EUR 55.75 at Lang & Schwarz on October 21, 2026 at 10:46 a.m. CEST.

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