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

Published on 10/19/2026 at 10:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

UBS lifted its target to EUR 71.00 on October 9, 2026. ArcelorMittal stock costs EUR 55.89 on October 19, 2026, 1.57 percent below the Xetra close.

Analyst targets and earnings context

JPMorgan raised its target from EUR 57.00 to EUR 70.00 on October 15, 2026.
Second-quarter 2026 revenue reached USD 16.76 billion against USD 16.99 billion expected.
ArcelorMittal stock trades at EUR 55.89 at 10:03 a.m. CEST at Lang & Schwarz on October 19, 2026, 1.57 percent below the Xetra close of October 16, 2026.

Bauhaus-Poster mit geometrischen Formen und Stahlwerk-Silhouette in Rot — ArcelorMittal S.A. (LU1598757687) zählt zur Stahlbranche, dieses Bauhaus-Poster kombiniert geometrische Formen mit Industriemotiven, Illustration mit AI erstellt.

ArcelorMittal (ISIN LU1598757687) was trading at EUR 55.89 at Lang & Schwarz on October 19, 2026, at 10:03 a.m. CEST, down 1.57 percent from the October 16 Xetra close. The latest catalyst is JPMorgan's upgrade of the steelmaker to Overweight and its target increase from EUR 57.00 to EUR 70.00 on October 15, 2026, as reported by Investing.com.

Targets rise despite earnings pressure

The analyst move followed a difficult second quarter. ArcelorMittal reported revenue of USD 16.76 billion for the second quarter of 2026, below the USD 16.99 billion consensus cited by Investing.com. Adjusted earnings per share came in at USD 0.90 against USD 1.18 expected, while the company's financial statements show second-quarter net income of USD 687.00 million and operating profit of USD 1.06 billion.

JPMorgan said the stock had declined 17.00 percent since September and tied its upgrade to lower third-quarter expectations, cost inflation and operational disruptions in North America. Its 2027 earnings-before-interest, taxes, depreciation and amortization estimate of USD 11.10 billion was 5.00 percent above the USD 10.60 billion consensus cited in the same report.

Three dates frame the stock

The recent chronology is clear: ArcelorMittal reported USD 16.76 billion of second-quarter revenue on July 30, 2026; UBS raised its target from EUR 61.00 to EUR 71.00 on October 9, 2026; and JPMorgan raised its target from EUR 57.00 to EUR 70.00 on October 15, 2026, according to Investing.com.

The next dated item is third-quarter 2026 results, which Gekko lists for November 5, 2026, with consensus revenue of USD 17.30 billion and earnings per share of USD 1.25, according to Gekko. That report will test whether the lower estimates have reset expectations enough for the upgraded targets to hold.

Price stays below analyst targets

The gap between the EUR 55.89 Lang & Schwarz price and the EUR 70.00 JPMorgan target keeps analyst expectations materially above the market quotation. The immediate counter-factor is operational execution, with third-quarter disruptions and cost inflation identified as risks in the JPMorgan report.

ArcelorMittal was trading at EUR 55.89 at Lang & Schwarz on October 19, 2026, at 10:03 a.m. CEST, 1.57 percent below the Xetra close of October 16, 2026 at EUR 56.78. The further course of trading is shown by the continuously updated real-time quote of ArcelorMittal stock.