JPMorgan raises target for ArcelorMittal stock from EUR 57.00 to EUR 70.00

Published on 10/15/2026 at 10:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

JPMorgan raised its target from EUR 57.00 to EUR 70.00 on October 15, 2026. ArcelorMittal stock costs EUR 55.66.

JPMorgan changes the valuation view

JPMorgan raised its ArcelorMittal target from EUR 57.00 to EUR 70.00 on October 15, 2026.
Second-quarter 2026 revenue reached USD 16.76 billion and adjusted earnings per share were USD 0.90.
ArcelorMittal stock traded at EUR 55.66 at 10:12 a.m. CEST at Lang & Schwarz on October 15, 2026.

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ArcelorMittal stock (ISIN LU1598757687) traded at EUR 55.66 at Lang & Schwarz on October 15, 2026 at 10:12 a.m. CEST. Investing.com reported on October 15, 2026 that JPMorgan upgraded ArcelorMittal from Neutral to Overweight and raised its price target from EUR 57.00 to EUR 70.00.

JPMorgan sees earnings acceleration

The upgrade rests on a recovery thesis rather than on the latest quarterly beat. JPMorgan pointed to a possible fourth-quarter earnings inflection and estimated 2027 EBITDA at USD 11.10 billion, 5.00 percent above its USD 10.60 billion consensus reference, according to Investing.com.

That optimism contrasts with the latest reported quarter. ArcelorMittal generated USD 16.76 billion of revenue in the second quarter of 2026, while adjusted earnings per share were USD 0.90 against a USD 1.18 consensus estimate, according to Investing.com. The revenue figure was slightly below the USD 16.99 billion expectation cited in the same report.

What does the target change mean?

The new EUR 70.00 target stands EUR 14.34 above the Lang & Schwarz price, giving the recommendation a clearly quantified valuation gap. The move follows UBS, which upgraded ArcelorMittal from Neutral to Buy and lifted its target from EUR 61.00 to EUR 71.00 on October 9, 2026, according to FinanzNachrichten.

Three dates define the shift

On July 30, 2026, ArcelorMittal reported second-quarter revenue of USD 16.76 billion and adjusted earnings per share of USD 0.90. On October 9, 2026, UBS raised its target to EUR 71.00 from EUR 61.00. On October 15, 2026, JPMorgan raised its target to EUR 70.00 from EUR 57.00.

Next reporting date

Stock Analysis lists November 5, 2026 as ArcelorMittal's next earnings date.

Stock trades at Lang & Schwarz

ArcelorMittal's latest analyst action puts the earnings outlook ahead of the second-quarter shortfall. The stock was trading at EUR 55.66 at Lang & Schwarz on October 15, 2026 at 10:12 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of ArcelorMittal stock.