# UBS Upgrades ArcelorMittal to Buy as European Steel Outlook Improves

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/29224
Published: 2026-10-09T19:41:49.000Z
Updated: 2026-10-09T19:41:49.000Z
Section: Investing

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

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.