ArcelorMittal Share: Among the Steepest Declines in the CAC 40
The steelmaker is retreating slightly at midday, in a CAC 40 that is advancing, and ranks among the index's worst performers. The security remains under short-term pressure, even as JP Morgan has just raised its price target.
A Security Below Its Short-Term Averages but Still Above the 200-Day Moving Average
ArcelorMittal is down 0.36% to €56.06 during the session, while the CAC 40 is up 0.25%. Today's decline is modest, but it extends a slide of 10.5% over one month. The price is below the 20-day moving average (gap of 5.67%) and the 50-day moving average (gap of 9.86%). The 200-day moving average, at €54.47, remains below the price, however, with a gap of 2.92%.
The support at €54.22 is only a few points away from the 200-day moving average, which narrows the zone to monitor. The RSI at 37 reflects a marked weakening of momentum without reaching oversold territory. Over one year, the security still maintains a gain of nearly 71%.
JP Morgan Raises Its Price Target to €70 and Upgrades to Overweight
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JP Morgan raised its price target on Thursday from €57 to €70, and upgraded its opinion from neutral to overweight. This target reveals an upside potential of approximately 25% compared to the current price. CIC Market Solutions, for its part, raised its own target from €57.78 to €75.86 on October 13, while maintaining its hold rating.
Analysts' opinions are therefore significantly higher than the price, as the group had published its H1 2026 results on July 30, with a confident tone on prospects. The security ranks among the weakest in the CAC 40 this Thursday.
Positive outlook across the near, medium and long term with robust shareholder returns and structurally higher quality earnings
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