Sika Reiterated at Buy as Berenberg Notes 'Strong' Q3 Results; Price Target Up

07:12 AM EDT, 10/26/2026 (MT Newswires) -- Berenberg reiterated Sika (SIKA.SW) at buy following the specialty chemicals company's better-than-expected third-quarter results. "Sika delivered strong Q3 results on 23 October, with sales of CHF3,122m, beating our estimate by 4% and consensus by 1%. More importantly, organic growth accelerated to 4.6% from 2.9% in H1, exceeding both our and consensus expectations of 4.2%. The EBITDA margin improved by 60bp versus H1 sequentially to 19.6%, compared with our forecast of 19.2% and consensus of 19.4%. Consequently, EBITDA exceeded our estimate by 6% and consensus by 2%," the research firm said Monday. Analysts also noted Sika's confirmed full-year 2026 guidance, including local currency growth of sales between 3% and 6% and an EBITDA margin of 19.0% to 19.5%. The stock's price target was also increased to 245 francs from 240 francs, while revenue, EBIT and EPS projections for 2026 to 2028 were raised. "We believe the positive operating momentum, combined with further benefits from the Fast Forward programme, provides a solid foundation for earnings growth over the coming years," analysts noted.