7/103 sources · 2 publishersUpdated Oct 9, 12:17 UTC
UBS upgrades ArcelorMittal to Buy with €71 price target
UBS raised ArcelorMittal’s rating from Neutral to Buy and lifted its price target from €61 to €71, citing an expected rally in EU steel prices. The bank projects free‑cash‑flow yields of 6%‑8% through 2029 and notes that each €10 per ton increase in steel prices could add about $325 million to EBITDA. The upgrade sent the stock up roughly 4% to €56.54 on the day of the announcement.
Why it matters
UBS expects higher steel prices to boost ArcelorMittal’s free‑cash‑flow yield to 6‑8%, which could support a higher valuation and further share‑price gains.
Key facts
- 1UBS upgraded ArcelorMittal’s rating from Neutral to Buy. investing.com
- 2The price target was raised to €71 from €61. investing.com
- 3UBS forecasts free‑cash‑flow yields of 6%‑8% through 2029. investing.com
- 4UBS estimates each €10 per ton increase in EU steel prices adds $325 million to EBITDA and $250 million to free cash flow. investing.com
- 5ArcelorMittal’s Q2 2026 revenue rose 8.4% year over year to $16.8 billion. marketscreener.com
- 6Q2 2026 EBITDA increased 11% year over year to $2.06 billion. marketscreener.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.