UBS raises target for ArcelorMittal stock from EUR 61 to EUR 71
Published on 10/12/2026 at 09:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- UBS upgraded ArcelorMittal to Buy and raised its target from EUR 61.00 to EUR 71.00 on October 9, 2026.
- The stock was at EUR 57.05 at Lang & Schwarz on October 12, 2026, 0.47 percent below the October 9 Xetra close.
- Second-quarter 2026 EBITDA reached USD 2.10 billion, while the Kryvyi Rih shutdown carries a USD 1.00 billion impairment charge.
- ArcelorMittal's next earnings date is November 5, 2026.
ArcelorMittal (ISIN LU1598757687) was at EUR 57.05 at Lang & Schwarz on October 12, 2026 at 9:50 a.m. CEST, 0.47 percent below the Xetra close of October 9, 2026 at EUR 57.32. The latest analyst action came from UBS on October 9, when it upgraded the stock from Neutral to Buy and raised its target from EUR 61.00 to EUR 71.00, as FinanzNachrichten reported.
Three events reset the outlook
On July 30, 2026, ArcelorMittal reported second-quarter 2026 EBITDA of USD 2.10 billion and a margin of USD 155.00 per ton in its earnings call. The European segment delivered EBITDA of USD 98.00 per ton, according to Yahoo Finance.
On September 25, 2026, the company said it could not safely restart its Kryvyi Rih operation after repeated missile strikes and expected a non-cash impairment charge of USD 1.00 billion. Reuters reported that four attacks killed five people and injured 17, while ArcelorMittal had provided more than USD 700.00 million in support to the unit.
On October 9, 2026, UBS became the most recent dated catalyst, moving from Neutral to Buy and lifting the target to EUR 71.00 from EUR 61.00. The new target stands 24.43 percent above the Lang & Schwarz price of EUR 57.05, calculated against the same euro reference price.
What does the UBS upgrade change?
The upgrade puts European steel supply at the center of the debate. UBS expects European import restrictions to tighten supply in the final quarter, while ArcelorMittal's second-quarter figures show the operating leverage already visible in a USD 155.00 per ton group margin and USD 98.00 per ton in Europe.
The counter-factor is the Ukrainian impairment and the operational uncertainty around Kryvyi Rih. The shutdown is a balance-sheet charge rather than a direct reduction in the second-quarter EBITDA figure, but the plant's disruption adds an operational risk that investors must separate from the European price outlook.
Next date is November 5
ArcelorMittal's next earnings date is November 5, 2026, according to Yahoo Finance. That report should show whether stable-to-higher third-quarter shipments, the guidance discussed in the July 30 call, offset the Ukraine-related charge.
Stock remains below the UBS target
At EUR 57.05, the Lang & Schwarz price was EUR 0.27 below the October 9 Xetra close of EUR 57.32. The comparison is modest beside the 24.43 percent gap to UBS's EUR 71.00 target, but the target is an analyst forecast rather than a company commitment.
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: ARRD
- Primary exchange: Xetra
- Price Lang & Schwarz (as of October 12, 2026, 9:50 a.m. CEST): EUR 57.05
- Change versus Xetra close: minus 0.47 percent
- Xetra close (October 9, 2026): EUR 57.32
- Sector / Industry: Basic Materials / Metals and Mining
- Next earnings date: November 5, 2026
Market context: Market report DAX.
