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Barclays raises Rockwool stock target by DKK600

EditorAhmed Abdulazez Abdulkadir
Published 2024-05-22, 07:28 a/m
ROCKAc
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On Wednesday, Barclays (LON:BARC) updated its outlook on Rockwool International A/S, a Denmark-based manufacturer of stone wool insulation, by raising its price target on the company's shares. The new target is set at DKK3,300.00, up from the previous DKK2,700.00, while the firm maintains an Overweight rating on the stock.

The adjustment comes as Barclays anticipates potential growth for Rockwoil beyond its current guidance. The firm highlights Rockwool's high operating leverage, which could benefit from market recovery, and points to the company's midterm potential that may not be fully accounted for by the market. This includes prospects for stronger structural growth and significant productivity and growth initiatives.

Barclays' forecast for Rockwool's earnings before interest and taxes (EBIT) for the years 2024 to 2026 has been increased by an average of 18%. According to Barclays, even with the increased price target, the valuation multiples for Rockwool shares remain compelling.

The Overweight rating indicates that Barclays expects the company's stock performance to be better than the average return of the stocks covered by the analyst in the sector over the next 12 months.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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