ArcelorMittal SA shares closed the session on Wednesday, January 21, 2026, at 43.58 euros, up 4.76% from the previous day's close of 41.60 euros. This increase marks the fifth consecutive green session for the Luxembourg-based steel giant. Over the past year, the stock has seen a spectacular increase of 87.52%, with the last three months alone showing a surge of 30.67%. The sectoral context, marked by the implementation of the Carbon Border Adjustment Mechanism in January 2026, provides structural support to valuations.
Research offices maintain a cautious approach to the stock. On January 14, Jefferies raised its price target from 36 to 44 euros, maintaining a 'hold' recommendation, which represents an upside potential of 5.8% from the current price. Meanwhile, Goldman Sachs also raised its target from 30 to 36 euros while maintaining a neutral stance, reflecting a valuation considered balanced in light of current fundamentals. These adjustments reflect expectations of an improving steel market.
Technical Indicators Suggest Caution After Recent Surge
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Technical indicators call for caution following the recent surge. The RSI has reached 69, approaching the traditional overbought zone at 70, suggesting a possible pause or consolidation after five uninterrupted sessions of gains. This configuration reflects the intensity of recent purchases and could prompt some participants to take profits. However, breaking through the resistance level at 42.13 euros confirms the strength of the ongoing upward trend. The stock is now trading above its strategic moving averages, with the MM50 at 37.86 euros and the MM200 at 30.97 euros, confirming a favorable medium and long-term orientation. The next significant stock market event will be on February 6 with the announcement of the 2025 annual results, an event closely watched by the markets to assess the operational trajectory of the group in a transforming European steel environment.
Nous restons confiants dans les perspectives d'ArcelorMittal pour le reste de l'année.
Résultats du 1er trimestre démontrant une résilience avec des marges améliorées.
Risks mentioned
Les taux de change et autres charges financières nettes s'élevaient à 80 M$ au 1T 2026.
La dépense d'impôts sur le revenu pour le 1T 2026 était de 136 M$.
L'augmentation de la dette nette à 9,3 milliards $ pourrait affecter la perception des investisseurs.
Pressions sur le coût des matières premières en raison de l'inflation.
Opportunities identified
L'augmentation de la production d'acier brut à 13,3 Mt en 1T 2026.
Le programme d'investissement stratégique en cours offre un potentiel de croissance.
Le redémarrage des hauts-fourneaux inactifs à Fos et Dabrowa a été préparé.
Les investissements dans de nouveaux fours à arc électrique augurent de meilleures performances.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
