ArcelorMittal stock hits 5-year high, leading the CAC 40

Deutsche Bank raises its price target to €71 and confirms its buy rating on ArcelorMittal

Deutsche Bank reaffirmed its buy rating on ArcelorMittal on Friday by raising its price target from €66 to €71, representing an upside potential of approximately 6.5% compared to the current price of €66.72. This revision comes as the stock just reached €66.82 during the session, an unprecedented high in five years. The analysts' consensus reflects renewed confidence in the group's trajectory, whose stock performance is spectacular over one year: the stock shows close to 140% gain over twelve months.

Over one month, the gain reaches nearly 8%, and over the week, the stock advances by more than 4%. This context of upward reclassification accompanies a Paris market in slight decline, with ArcelorMittal among the strongest gainers in the CAC 40 with a gain of 1.61% during the session.

A five-year intraday record driven by solid technical configuration above moving averages

The stock is trading significantly above its three moving averages: the 20-day MA at €63.42 is exceeded by more than 5%, the 50-day MA at €59.86 by more than 11%. These gaps demonstrate an underlying bullish momentum that has built progressively over several weeks. The RSI at 59 remains in neutral territory, showing no overbought signals, which leaves technical room before reaching the psychological €70 threshold, the next benchmark to watch above the current price.

On a fundamental level, when publishing Q1 2026 results on April 30, 2026, the group maintained unchanged its annual guidance, with shipments expected to grow across all regions. The VIX at 14.17, down nearly 7% during the session, reflects a generally serene market, which supports appetite for cyclical stocks such as the Luxembourg steelmaker.