AlphaValue/Baader Europe Lifts Brenntag Forecasts Post-Q2 Results, FY26 Outlook Upgrade

05:32 AM EDT, 08/28/2026 (MT Newswires) -- AlphaValue/Baader Europe raised its earnings projections for Brenntag (BNR.F) after the chemicals and ingredients distribution company's second-quarter report and full-year outlook upgrade. "We are raising our FY26 EPS estimate by 12%, mainly reflecting the stronger operating earnings outlook following the Q2 performance and the upgrade to FY26 guidance," the research firm said Friday. Citing its "solid" performance so far, Brenntag lifted its 2026 operating EBITDA outlook to between 1.35 billion euros and 1.45 billion euros from the prior range of 1.15 billion euros to 1.35 billion euros. As such, analysts increased their 2026 EPS forecast by 12.1% to 3.53 euros, while their 2027 estimate stood at 3.75 euros. "Management has also indicated that further self-help measures are being prepared. However, these measures have not yet been disclosed in detail and are expected to be presented at the November CMD. Until we have greater visibility on the scope, timing and earnings contribution of these initiatives, we remain cautious on the medium- to long-term investment case. Beyond the current pricing support, we still see no major structural catalyst capable of materially improving Brenntag's growth profile or earnings quality. We therefore view our FY26 EPS upgrade mainly as a near-term earnings reset rather than a change in the underlying investment case," analysts added. AlphaValue/Baader Europe rates the stock at reduce, with a price target of 65.8 euros.