UBS raises target for ArcelorMittal stock from EUR 61.00 to EUR 71.00
Published on 10/09/2026 at 12:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- UBS upgraded ArcelorMittal from Neutral to Buy and raised its target from EUR 61.00 to EUR 71.00 on October 9, 2026.
- Second-quarter 2026 revenue was USD 16.76 billion versus USD 16.99 billion expected, while adjusted earnings per share were USD 0.90 versus USD 1.18 forecast.
- The Lang & Schwarz price was EUR 57.14 on October 9, 2026, plus 4.25 percent versus the EUR 54.81 prior close.
- ArcelorMittal's third-quarter 2026 results are scheduled for November 5, 2026.
UBS upgraded ArcelorMittal from Neutral to Buy and raised its price target from EUR 61.00 to EUR 71.00 on October 9, 2026, according to Investing.com. ArcelorMittal stock was trading at EUR 57.14 at Lang & Schwarz on October 9, 2026 at 11:59 a.m. CEST, up 4.25 percent versus the prior close of EUR 54.81.
UBS sees steel prices recovering
UBS expects European Union steel prices to rise over the next six months, with each EUR 10.00-per-ton increase in hot-rolled coil prices adding USD 325.00 million to ArcelorMittal's EBITDA and USD 250.00 million to free cash flow, Investing.com reported on October 9, 2026.
The upgrade follows a weaker second quarter. ArcelorMittal reported USD 16.76 billion of revenue in the second quarter of 2026 against USD 16.99 billion expected, while adjusted earnings per share came to USD 0.90 versus a USD 1.18 forecast, according to Investing.com.
What changed in the past month?
On September 25, 2026, ArcelorMittal said four missile strikes had prevented a safe and sustainable restart at its Kryvyi Rih operation in Ukraine, according to AFX News. The company also expected a non-cash impairment charge related to damaged property, plant and equipment.
Three dated analyst and operating signals
On September 25, 2026, the Kryvyi Rih update followed four missile strikes, according to AFX News. On October 5, 2026, Deutsche Bank cut its target from EUR 71.00 to EUR 70.00 while retaining its Buy rating, as reported by finanzen.at. On October 9, 2026, UBS moved in the opposite direction, raising its target from EUR 61.00 to EUR 71.00, according to Investing.com.
November results set the next test
ArcelorMittal's next earnings report is scheduled for November 5, 2026, according to Tickeron. The report will provide the next quantified check on shipments, margins and the financial effect of the Kryvyi Rih halt.
Stock gains with a wide target gap
The Lang & Schwarz price of EUR 57.14 stood EUR 13.86 below UBS's EUR 71.00 target on October 9, 2026, a gap of 19.52 percent calculated against the target. The same session price was EUR 25.27 above the 52-week low of EUR 31.87 and EUR 11.42 below the 52-week high of EUR 68.56, both as of October 9, 2026.
The further course of trading is shown by the continuously updated real-time quote of ArcelorMittal stock.
ArcelorMittal stock facts
- Company: ArcelorMittal S.A.
- ISIN: LU1598757687
- Ticker: MT.AS
- Primary exchange: Euronext Amsterdam
- Price Lang & Schwarz as of October 9, 2026 at 11:59 a.m. CEST: EUR 57.14
- Change versus prior close: plus 4.25 percent
- Prior close Lang & Schwarz September 30, 2026: EUR 54.81
- Market capitalization: EUR 43.1 billion as of October 9, 2026
- 52-week range: EUR 31.87-EUR 68.56 as of October 9, 2026
- Sector / Industry: Materials / Steel
- Next earnings date: November 5, 2026
Market context: Market report AEX.
