BofA Reaffirms UCB's Buy Rating on Upbeat FY26 Outlook

07:50 AM EST, 01/07/2026 (MT Newswires) -- UCB's (UCB.BR) strong momentum in 2025 is anticipated to continue into 2026, leading BofA Global Research to maintain its buy rating on the stock on Wednesday, with a 280-euro price objective. The research firm expects the Belgian biopharmaceutical company to report 7.6 billion euros in total revenue for 2025 when it releases its full-year results on Feb. 26, 2026. "For FY26 we forecast Eur8.4bn sales with Eur3.2bn Bimzelx (vs Eur2.2bn for FY25), and c34.0% adjusted EBITDA margin. UCB sounds largely comfortable with cons, and we forecast it guiding broadly in line to slightly below cons," analysts said in a preview note. "UCB commentary was unchanged from Dec guide raise - that FY25 Bimzelx pricing tailwind won't be sustained into FY26, and patients switching to maintenance doses from induction phase will also be a headwind. Despite this caution we remain mid-sd% above FY26 Bimzelx cons as we forecast more of the 2H25 pricing benefit to continue into FY26." Meanwhile, the projected EPS for 2025 was cut to 8.93 euros from 9.04 euros. EPS forecasts for 2026 and 2027 were also downwardly revised.