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Berenberg Sees 'Sustainable' Volume-led Growth for UCB into FY27; Estimates Up

MT Newswires·11/06/2026 00:26:30
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12:26 AM EST, 11/06/2026 (MT Newswires) -- Berenberg upgraded its earnings estimates for UCB (UCB.BR), highlighting potential for "sustainable" volume-led growth heading into 2027. "Following UCB's recent guidance upgrade announcement, we hosted a timely discussion with CFO, Sandrine Dufour this week on our 2026 Pharma CFO Series. UCB now anticipates FY26 revenue growth in the 'low twenties' and adjusted EBITDA growth of 'low to mid-forties'. The improved outlook represents higher demand and better pricing dynamics for Bimzelx and Cimzia. While continued gradual price erosion is expected, we believe the stronger volume growth is sustainable into 2027 and beyond," analysts said Thursday. After a "quiet" 2026, the research firm noted that it expects "more influential" catalysts in the coming year, including Bimzelx late-stage PPP data, galvokimig phase 2b atopic dermatitis results, and prospective phase 2 and 3 readouts for recently acquired assets, rezanecel and cizutamig. Against this backdrop, Berenberg raised its price target on the stock to 320 euros from 305 euros and maintained its buy rating. Analysts also upgraded their revenue, EBIT and EPS projections for 2026 through 2028.