Berenberg Raises Kingspan Group Estimates, Price Target on 'Exciting' Growth Acceleration

05:54 AM EDT, 08/18/2026 (MT Newswires) -- Berenberg raised its forecasts and price target for Kingspan Group (KRX.IR), with analysts noting the company's "exciting" growth acceleration following its first-half results and BMC Manufacturing deal announcement. "Following a three-year period from 2023-25 where Kingspan's average EBITA growth was just 5%, which was low relative to its own impressive history, we now see an exciting reacceleration with EBITA growth of 18% per year over the next three years. The most significant growth is coming from the Advnsys division - both organic and acquired - but we also remain optimistic on the growth profile for the Insulated Building Envelopes business where we expect to see further positive momentum on organic, acquisition and new-capacity-driven growth over the mid-term," analysts said in a Tuesday note. The Irish building materials company reported first-half revenue of 4.86 billion euros and a trading profit of 487 million euros, with growth seen in its Insulated Building Envelopes and Advnsys divisions. Kingspan now forecasts 2026 trading profit of 1.13 billion euros, up from its prior outlook of 1.05 billion euros, which Berenberg said translates to an 18% annual growth. Meanwhile, analysts view the BMC Manufacturing deal as "a strategically smart and attractively priced acquisition," noting that it complements Kingspan's Advnsys segment as the target company produces products for the data center sector. As such, Berenberg raised its sales, EBITA and EPS estimates for 2026 to 2028. The stock's price target was increased to 120 euros from 95 euros, with an unchanged buy rating.