ArcelorMittal upgraded to Neutral from Underweight at JPMorgan

JPMorgan analyst Dominic O'Kane upgraded ArcelorMittal to Neutral from Underweight with a price target of EUR 57, up from EUR 45. The firm is positive on the earnings trajectory for ArcelorMittal and SSAB across 2026-28, but its Neutral recommendations reflect greater price target upside in Voestalpine and Salzgitter, the analyst tells investors.