50/100BArcelorMittal stock forecast 2026–2029What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for ArcelorMittal is 74.33, 21.8% above the current price of 61.01. Their targets range from 62.00 to 82.00.
Of the 5 firms that rated ArcelorMittal in the past 12 months, 3 rate it buy or strong buy, 2 hold and 0 sell or strong sell (each firm at its latest rating): a Buy consensus.
Analysts' 1-year price targets range from 62.00 to 82.00, with an average of 74.33.
| Buy | 3 | |
| Hold | 2 | |
| Sell | 0 |
12-month price target
| Highest target | 82.00 |
| Average target | 74.33 |
| Lowest target | 62.00 |
| Current price | 61.01 |
ArcelorMittal price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their ArcelorMittal price target and rating?
How analysts rate ArcelorMittal, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
3 of 5 firms rate it buy now, against 2 of 6 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
ArcelorMittal analyst upgrades, downgrades and price targets
The latest rating change came on 9 October 2026, when UBS upgraded ArcelorMittal from Neutral to Buy. The most recent new target came from Deutsche Bank on 5 October 2026: 79.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 9 Oct 2026 | UBS | Upgraded · Neutral → Buy | — | — | — |
| 5 Oct 2026 | Deutsche Bank | — | 75.00 → 79.00 | +5.3% | 64.27 |
| 24 Aug 2026 | Morgan Stanley | Reiterated · Overweight | 82.00 | — | 72.20 |
| 31 Jul 2026 | Deutsche Bank | — | 70.00 → 75.00 | +7.1% | 68.98 |
| 10 Jul 2026 | JP Morgan | Upgraded · Underweight → Neutral | — | — | — |
| 9 Jul 2026 | Wells Fargo Timna Tanners | Reiterated · Equal Weight | 60.00 → 62.00 | +3.3% | 63.21 |
| 7 Jul 2026 | Deutsche Bank Bastian Synagowitz | — | 49.00 → 70.00 | +42.9% | 64.79 |
| 15 Apr 2026 | Wells Fargo Timna Tanners | — | 39.00 → 60.00 | +53.8% | 62.05 |
| 9 Mar 2026 | JP Morgan | Downgraded · Overweight → Underweight | — | — | — |
| 11 Feb 2026 | Jefferies | Upgraded · Hold → Buy | — | — | — |
| 26 Nov 2025 | Deutsche Bank Bastian Synagowitz | — | 49.00 | — | 42.26 |
| 17 Nov 2025 | UBS | Downgraded · Buy → Neutral | — | — | — |
ArcelorMittal EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect ArcelorMittal's EPS to grow 30.6% a year until 2027.
Analysts expect ArcelorMittal's revenue to grow 8.2% a year until 2027. Over the last 5 years it grew 2.9% a year, and over the last 3 years it fell 8.4%.
Revenue
EPS
Does ArcelorMittal beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 33.3% off the result, either way, and their revenue estimate 4.0%, over the last 12 quarters.
- EPS beats
- 57 / 98
- Revenue beats
- 47 / 90
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +24.0%
- Since
- February 1998
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 5 Nov 2026 | 0.80 | 1.15 | +43.7% | 17.77B | 16.47B | -7.3% |
| Q2 FY2026 | 30 Jul 2026 | 1.18 | 0.89 | -24.6% | 17.30B | 16.76B | -3.1% |
| Q1 FY2026 | 30 Apr 2026 | 0.72 | 0.75 | +4.2% | 17.04B | 15.46B | -9.3% |
| Q4 FY2025 | 5 Feb 2026 | 0.56 | 0.86 | +53.6% | 16.21B | 14.97B | -7.6% |
| Q3 FY2025 | 6 Nov 2025 | 0.58 | 0.62 | +6.9% | 15.60B | 15.66B | +0.4% |
| Q2 FY2025 | 31 Jul 2025 | 1.33 | 1.32 | -0.8% | 15.88B | 15.93B | +0.3% |
| Q1 FY2025 | 30 Apr 2025 | 0.71 | 1.04 | +46.5% | 15.53B | 14.80B | -4.7% |
| Q4 FY2024 | 6 Feb 2025 | 0.61 | 0.52 | -14.8% | 15.48B | 14.71B | -4.9% |
| Q3 FY2024 | 7 Nov 2024 | 0.58 | 0.63 | +8.6% | 15.25B | 15.20B | -0.4% |
| Q2 FY2024 | 1 Aug 2024 | 0.75 | 0.63 | -16.0% | 15.40B | 16.25B | +5.5% |
| Q1 FY2024 | 2 May 2024 | 0.94 | 1.16 | +23.4% | 16.24B | 16.28B | +0.3% |
| Q4 FY2023 | 8 Feb 2024 | -2.08 | 1.18 | +156.7% | — | 31.15B | — |
ArcelorMittal stock price 2026–2029: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If ArcelorMittal's earnings grow at the 35.1% a year analysts expect to FY2027, then 15.0% a year, it would earn about 9.27 a share in FY2029. At the P/E it has traded at over the last five years (2.4 to 44.5) that is 21.81 to 412.85 a share, or 154.73 at its average P/E of 16.7. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2026 | 3.25 | 7.65 | 54.24 | 144.73 |
| FY2027 | 7.01 | 16.49 | 117.00 | 312.18 |
| FY2028 (extrapolated) | 8.06 | 18.97 | 134.55 | 359.00 |
| FY2029 (extrapolated) | 9.27 | 21.81 | 154.73 | 412.85 |
Each year's EPS is the analysts' consensus to FY2027; the years after grow 15.0% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (2.4, 16.7, 44.5).
Is ArcelorMittal stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
ArcelorMittal's P/E of 44.5 is near the top of its 5-year range (1.2 to 44.5, median 5.9). It is within 5% of its 5-year high. Analysts expect faster growth than in recent years, which can explain part of the high P/E. Fair value is not a reliable guide for ArcelorMittal: analysts expect EPS growth of 30.6% a year against -26.1% before, so its past P/E no longer describes it. Its forward P/E, on the consensus for FY2026, is 18.8.
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 44.53
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 5.90
- Five-year P/E range
- 1.2 – 44.5
- Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 18.77
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 1.27
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- +21.8%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 99.090 | 194.93146Price 99.09244 | +96.7% | |
| 42.225 | 82.9546Price 42.23165 | +96.4% | |
| 186.680 | 360.82271Price 186.68451 | +93.3% | |
| 213.670 | 405.57304Price 213.67507 | +89.8% | |
| 161.160 | 305.51157Price 161.16396 | +89.6% | |
| 160.650 | 300.09225Price 160.65375 | +86.8% | |
| 165.860 | 308.95212Price 165.86442 | +86.3% |
Furthest below the fair value on each stock's page, updated every day.