JPMorgan raises target for ArcelorMittal stock to EUR 70.00

Published on 10/16/2026 at 10:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue was USD 16.76 billion, up 5.20 percent year over year. ArcelorMittal stock costs EUR 56.89 on October 16, 2026 versus EUR 56.62.

Broker target and operating figures

JPMorgan raised its ArcelorMittal target from EUR 57.00 to EUR 70.00 on October 15, 2026.
Second-quarter revenue reached USD 16.76 billion, up 5.20 percent year over year.
ArcelorMittal stock trades at EUR 56.89 at 10:12 a.m. CEST at Lang & Schwarz on October 16, 2026, 0.48 percent above the Xetra close of October 15, 2026.
ArcelorMittal is scheduled to report results on November 5, 2026, and has an ex-dividend date of November 13, 2026.

Glühender Stahlguss vor Hochofenanlage bei Sonnenuntergang mit Arbeitern — ArcelorMittal S.A. (LU1598757687) betreibt Hochöfen, hier fließt glühender flüssiger Stahl bei Sonnenuntergang eindrucksvoll heraus, Illustration mit AI erstellt.

ArcelorMittal (ISIN LU1598757687) was trading at EUR 56.89 at Lang & Schwarz on October 16, 2026 at 10:12 a.m. CEST, up EUR 0.27 or 0.48 percent versus the Xetra close of October 15, 2026. On October 15, 2026, Markets Insider reported that JPMorgan upgraded the steelmaker from Neutral to Overweight and lifted its target from EUR 57.00 to EUR 70.00.

Three dates frame the upgrade

ArcelorMittal reported second-quarter 2026 revenue of USD 16.76 billion on July 30, 2026, up 5.20 percent from the prior year, while adjusted earnings per share came in at USD 0.90 versus a USD 1.18 consensus estimate, according to Investing.com.

On October 9, 2026, UBS raised its target from EUR 61.00 to EUR 71.00 and upgraded the stock from Neutral to Buy, the same Investing.com report said. JPMorgan's October 15 move is the third dated event in this sequence, with the target rising by EUR 13.00 from its earlier level.

What does the target change mean?

The broker's case rests on an earnings recovery rather than on the second-quarter result alone. Markets Insider said JPMorgan expects EBITDA growth of 37.00 percent in 2027 and 47.00 percent in 2028. The report also linked the upgrade to valuation after recent share-price underperformance.

Upcoming reporting dates

ArcelorMittal is scheduled to report its next results on November 5, 2026, according to a dated earnings calendar listing. The company also has a November 13, 2026 ex-dividend date listed by Yahoo Finance.

Stock stays near EUR 57

The current euro quote places the stock EUR 0.27 above the latest Xetra close, while the analyst targets remain above the market quotation. For investors, the November report will provide the next test of the recovery assumptions behind the broker upgrades. ArcelorMittal was trading at EUR 56.89 at Lang & Schwarz on October 16, 2026 at 10:12 a.m. CEST, 0.48 percent above the Xetra close of October 15, 2026 at EUR 56.62. The further course of trading is shown by the continuously updated real-time quote of ArcelorMittal stock.