Thyssenkrupp Rides Steel-Sector Upgrade Wave as Analysts Lift Targets
Published on 10/10/2026 at 07:11 | Editorial boerse-global.de
A sector-wide re-rating, not a company-specific catalyst, powered Thyssenkrupp shares to a 6.2% gain on Friday, with the Essen-based industrial group closing at EUR 13.78. The advance came after UBS upgraded several European steelmakers — Salzgitter, ArcelorMittal and voestalpine among them — citing new EU import quotas expected to tighten the supply of foreign steel on the continent and underpin pricing for domestic producers. Thyssenkrupp was swept up in the resulting momentum, according to Dow Jones.
The move extends an already strong run for the stock, which is up 48% since the start of the year, buoyed by restructuring efforts and the strategic overhaul of the conglomerate's individual divisions.
Two Brokerages Raise Their Sights
Institutional observers have grown more constructive in tandem with the share price. On October 7, Jefferies analyst Tommaso Castello lifted his target for Thyssenkrupp to EUR 16.50 from EUR 13.00 while reaffirming a "Buy" rating, pointing to an anticipated recovery in the steel business and the planned spin-off of the trading unit tk accelis. Baader Europe followed a day later, on October 8, raising its target to EUR 15.50 from EUR 13.90 and keeping an "Add" recommendation, citing higher earnings expectations for the steel division on the back of its strategic plans.
Those plans took center stage roughly two weeks ago at the steel unit's Capital Market Day, where management unveiled ambitious mid-term goals: adjusted EBITDA of at least EUR 1.2 billion and an operating margin of at least 11%. Internal cost-cutting measures are slated to contribute more than EUR 800 million at the steel subsidiary.
Should investors sell immediately? Or is it worth buying Thyssenkrupp?
tk accelis Listing and India Expansion Advance in Parallel
Beyond the trading floor, Thyssenkrupp is pressing ahead with the carve-out of tk accelis. Media reports suggest the group is targeting October 28 for the separate stock exchange listing of the materials trading arm, though the company itself has not confirmed that specific date; officially, it maintains only that the listing will be completed by the end of 2026.
The group is simultaneously widening its automotive footprint abroad. On October 8, the Automotive Technology division opened a new development center for chassis technologies in the Indian city of Pune, where more than 120 engineers are already at work. Headcount there is expected to exceed 300 in the years ahead.
On the shareholder side, Goldman Sachs disclosed a total position of 7.61% in Thyssenkrupp as of October 5, comprising 1.49% in voting rights from shares and 6.12% in financial instruments.
Thyssenkrupp at a turning point? This analysis reveals what investors need to know now.
Management's next engagement with the capital market comes on October 14, when the company presents at an investor roadshow in Paris. The full annual report for fiscal year 2025/2026 is scheduled for release on December 8.
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