UBS Upgrades ArcelorMittal to Buy as European Steel Outlook Improves

1 min read

The bank raised its price target to €71 from €61 as ArcelorMittal shares gained 4.6% in Friday trading.

By Enna Lee

Published Oct 9, 2026, 3:41 PM EDT

UBS upgraded ArcelorMittal to Buy from Neutral on Oct. 9 as its outlook for European steel prices improved.

The bank raised its price target for the steel producer to €71 from €61. ArcelorMittal shares rose 4.6% in Friday trading.

The rating change places the company under renewed focus as expectations for European steel prices become more favorable.

Enna Lee

Reporter

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.