AlphaValue/Baader Europe Raises Estimates for UCB on Recent FY26 Outlook Upgrade

03:22 AM EDT, 10/27/2026 (MT Newswires) -- AlphaValue/Baader Europe lifted its earnings forecasts for UCB (UCB.BR) "materially higher" after the Belgian biopharmaceutical company further upgraded its full-year 2026 guidance due to the performance of its Bimzelx and Cimzia treatments. "A guidance upgrade on top of the modest outlook uplift in July 2026 reflects UCB's habit of making modest promises and then delivering otherwise. While the share price offered a rare window of affordability between August and October 2026 (before the latest upward revision to the 2026 outlook on 22 October 2026), a c.33% share price run in the last one week has exhausted most of the upside. Consequently, despite the target price uplift, we would stay with our REDUCE recommendation, and so, one must be vigilant of any sentiment-driven correction to enter this name. At 2026e P/E of c.24x, the stock trades at a considerable premium to the sector average (c.18x)," analysts said Monday, adding that paying an "exorbitant" premium over peers' average multiples "may not be wise" as high premiums leave little room for operational or research and development-related errors. UCB now expects its revenue growth to reach the low twenties at constant currency, above the previous goal of between low- to mid-teens growth. Meanwhile, adjusted EBITDA growth is also expected to come in the low- to mid-forties at constant exchange rates, compared with the previous expectations of mid-teens to low-twenties. Within this context, AlphaValue/Baader Europe raised its price target on the stock to 289 euros from 265 euros. Analysts also increased their EPS estimates for 2026 and 2027 to 11.6 euros and 13.5 euros, respectively, from 9.93 euros and 12.2 euros.