{
  "id": 13067337,
  "title": "UBS upgrades ArcelorMittal stock rating on EU steel price outlook",
  "url": "https://urgent.news/2026/10/09/ubs-upgrades-arcelormittal-stock-rating-on-eu-steel-price-outlook",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-09T08:08:55.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/analyst-ratings/ubs-upgrades-arcelormittal-stock-rating-on-eu-steel-price-outlook-93CH-4940390"
  },
  "original_language": "en",
  "account": "UBS upgraded ArcelorMittal's stock rating from Neutral to Buy, raising the price target to EUR71.00 from EUR61.00. The firm anticipates a significant surge in European Union steel prices over the next six months. Analyst Andrew Jones believes the shares are currently fairly valued at approximately EUR750 per ton of spot hot-rolled coil. Despite a recent 5% decline in stock price over the past week, ArcelorMittal has shown strong performance, with a 57% return over the past year and a 35% increase year-to-date. UBS's analysis suggests the stock is undervalued relative to its Fair Value, with free cash flow yields around 6% to 8%. For every EUR10 increase in EU prices, EBITDA and free cash flow are estimated to rise by $325 million and $250 million, respectively. ArcelorMittal is gaining market share through import displacement and is considered the most liquid play on the EU theme. The stock's valuation is below both long-term and 2019-2024 average enterprise value to EBITDA multiples. The firm identifies risks in North American hot-rolled coil pricing and import risks in Brazil and India. ArcelorMittal's growth potential is estimated at $1.8 billion by 2029 through organic growth. While Q2 2026 earnings fell short of expectations, the company's outlook remains positive due to stronger pricing, improved cash generation, and a more favorable policy environment in Europe.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Why is ArcelorMittal stock rallying today?",
        "url": "https://urgent.news/2026/10/09/why-is-arcelormittal-stock-rallying-today",
        "published": "2026-10-09T08:13:18.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}