BofA Expects Sustained Momentum for Galderma in FY26; Price Objective, Estimates Raised

01:02 AM EST, 12/17/2025 (MT Newswires) -- BofA Global Research raised its price objective and financial estimates for Galderma Group (GALD.SW), expecting the Swiss dermatology company's topline growth to remain "strong" in 2026 on the back of its eczema medication Nemluvio. "We expect 2026 to be another year of strong growth for Galderma (BofA est: 16.2% cFX). The year should also show a strong step-up in Core EBITDA margin (BofA +310bps), mainly driven by Nemluvio turning profitable during 2H26 (Management guidance: breakeven in 2027). On the back of higher Nemluvio sales expectations, we raise our estimates by 1-4% over 2025-27E. Our estimates are now 1-3%% ahead of consensus," analysts said on Tuesday. As such, the price objective on the buy-rated stock was lifted to 190 francs from 165 francs. The research firm also continues to view Galderma as a "rare [European Union] Consumer high-quality growth company in an underpenetrated beauty market."