JPMorgan upgrades ArcelorMittal to Overweight with higher price target
JPMorgan raised its recommendation on ArcelorMittal to Overweight, increasing the price target to €70 from €57. The broker highlighted a 17% share‑price decline since September as an entry point and expects EBITDA to reach $11.1 billion in 2027 and $11.9 billion in 2028. It also projects European steel sector EBITDA growth of about 35% in 2027 and 50% in 2028. The upgrade lifted the stock about 1.4% on the day of the announcement.
Why it matters
The higher target and overweight rating suggest JPMorgan expects a material earnings rebound, which could attract buying interest and support the stock price. Investors may also adjust exposure to the broader European steel sector based on the projected EBITDA growth.
Key facts
- 1JPMorgan upgraded ArcelorMittal to Overweight from Neutral and raised the price target to €70 from €57. investing.com
- 2The stock has fallen 17% since September. investing.com
- 3JPMorgan forecasts ArcelorMittal EBITDA of $11.1 billion in 2027. investing.com
- 4JPMorgan forecasts ArcelorMittal EBITDA of $11.9 billion in 2028. investing.com
- 5JPMorgan expects European steel sector EBITDA growth of around 35% in 2027. marketscreener.com
- 6JPMorgan expects European steel sector EBITDA growth of around 50% in 2028. marketscreener.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.