ArcelorMittal Shares Surge 5.5% Midday After UBS Revision

Significant Midday Price Jump

ArcelorMittal SA's stock exhibited a 5.5% increase to €46.25 at midday, after closing at €43.84 the previous day. This rise is part of a recovery movement, as the stock price has recently been hovering near its technical support at €42.01, a threshold that has not been breached. However, the stock remains below its 20-day and 50-day moving averages, at €49.58 and €48.39 respectively, indicating a still fragile short-term trend despite today's rebound. The RSI, at 34, is near the oversold zone, which partly explains this corrective upward movement. Over one year, the performance remains largely positive, at nearly 75%. Meanwhile, the CAC 40 is up 2.08% during the session, while the SBF 120 advances by 2.10%, reflecting a renewed appetite for cyclical and industrial stocks in Paris this Wednesday.

Notable Update from UBS

Significantly, UBS updated its recommendation on the stock on Monday, March 31, raising its price target from €35.40 to €45, while maintaining a neutral rating. This new target is now very close to the current price of €46.25, suggesting limited potential according to the Swiss bank. The nearly 27% upward revision of the target nevertheless reflects a reevaluation of the group's fundamentals, in a context of sustained annual performance. Attention is now turning to the upcoming publication of the first quarter 2026 results, expected on April 30. This deadline could provide crucial insights into the commercial dynamics and margins of the steelmaker, as global energy costs remain under pressure. Among other industrial stocks listed in Paris, Schneider Electric is up 4.36% and Airbus advances 3.41% in the session, confirming the upward movement in the segment.