Outokumpu Drops as JPMorgan Cuts Rating to Neutral

By EC Assets · Published 9 November 2026

Shares of Outokumpu fell nearly 5% following a series of analyst rating actions, including a recommendation downgrade from JPMorgan. The Finnish stainless steel producer saw its stock drop 4.96% during trading on 9 November 2026. The move came as multiple brokerages revised their price targets and outlooks on the company. JPMorgan lowered its rating on Outokumpu from overweight to neutral. The investment bank reduced its price target on the stock from 6.30 euros to 3.40 euros. Analyst Dominic O'Kane had previously maintained an overweight rating on the shares with a 6.30 euro target, down from an earlier target of 6.50 euros. Other European brokerages also adjusted their valuations for the steelmaker around the same period. Deutsche Bank lowered its price target on Outokumpu to 4.60 euros from 5.20 euros, while maintaining a hold recommendation on the stock. In addition, Oddo reduced its target price for Outokumpu to 5.10 euros from 7.50 euros, while confirming its outperform rating. Nordea also adjusted its stance, cutting its price target to 5 euros from 6 euros while reiterating a buy recommendation. Nordea had earlier reduced its price target on 27 October from 6.50 euros to 6 euros. This article is intended for informational purposes only. It does not constitute investment advice.