UBS Upbeat on Lindt & Sprüngli's Return to 'Attractive' Volume Growth in FY27; Buy Confirmed

08:00 AM EDT, 08/28/2026 (MT Newswires) -- UBS Global Research confirmed its buy rating on Lindt & Sprüngli (LISN.SW, LISP.SW), expecting the Swiss chocolate maker's reinvestment prospects would support its return to "attractive" mid-single-digit volume growth next year after a "somewhat bumpy road" in 2026. In a Thursday note, the research firm said the recent summer heatwave could impact the group's 2026 organic sales on the back of risks related to chocolate consumption amid higher demand for ice cream. "We see a mixed picture for Lindt near term operations and think it is an effort until year end to reach the +4-6% (UBSe +3.7%, cons. +4.0%) 2026 organic sales guidance. Though the peak chocolate season is only beginning in October (the time period where also volume comps become much easier), the hot summer and some incremental consumer risk in Germany are not supportive. However, Lindt is globally diversified, is enjoying good momentum in NA and ROW gaining market share," analysts noted. "Additionally, our key catalyst for the stock, the up to CHF500m reinvestments potential linked to lower cocoa bean costs (we think Lindt has strong cost visibility due to hedging) in 2027E is coming closer and closer."