Leading the CAC 40, ArcelorMittal's share gains nearly 5% following UBS upgrade
The steelmaker rebounds sharply in mid-morning trading in a rising Paris market. Two brokerage firms published their views on Friday, with opposing target price movements.
A rebound that drives the stock to the top of the Paris index
The stock gains 4.87% to €56.86 and ranks first on the CAC 40, while the index advances 0.81%. This recovery comes after a month of decline of nearly 15%, and the price remains below its 20-day moving average (difference of 6.56%). The RSI at 28 still reflects an oversold configuration, giving this rebound the character of a recovery after a phase of selling pressure. The price, however, remains above its 200-day moving average (difference of 5.08%).
UBS raises its target to €71, Oddo BHF lowers it to €74
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The analysts' views published on Friday diverge in their target price movements. UBS moved from "market perform" to "buy" and raised its target from €61 to €71, representing an upside of 24.9% from the day's price. Oddo BHF remains at "outperform" but lowered its target from €76 to €74, leaving an upside of 30.1%. The group had disclosed its first-half 2026 results on July 30, accompanied by an outlook deemed confident for the years ahead.
Positive outlook across the near, medium and long term with robust shareholder returns and structurally higher quality earnings
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