Befesa stock: UBS raises target from EUR 47 to EUR 50 for Befesa stock

Published on 10/20/2026 at 16:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted EBITDA reached EUR 124.00 million in the first half, up 11.00 percent year over year. Befesa stock costs EUR 32.88 on October 20, 2026.

Analyst and operating figures

UBS raised its Befesa target from EUR 47.00 to EUR 50.00 on October 12, 2026.
Adjusted EBITDA reached EUR 124.00 million in the first half of 2026, up 11.00 percent year over year.
Befesa stock costs EUR 32.88 at Lang & Schwarz on October 20, 2026 at 4:00 p.m. CEST.

Overhead-Flatlay von Aktienzertifikat, ISIN-Karte LU1704650164, Zinkmetall und Industrieutensilien — Befesa S.A. zeigt im Flatlay Zinkgranulat, Schlackeproben und ein Aktienzertifikat zur ISIN LU1704650164, Illustration mit AI erstellt.

Befesa stock (ISIN LU1704650164) costs EUR 32.88 at Lang & Schwarz on October 20, 2026 at 4:00 p.m. CEST. The key investor reference is a UBS target increase from EUR 47.00 to EUR 50.00, with the new target 52.07 percent above the price.

UBS lifts its target

UBS raised its price target for Befesa from EUR 47.00 to EUR 50.00 and maintained its Buy rating in a study dated October 12, 2026, according to FinanzNachrichten. The research linked the target change to expectations for Befesa's third-quarter steel-dust throughput and a likely confirmation of the full-year outlook.

First-half earnings support

Befesa reported adjusted EBITDA of EUR 124.00 million for the first half of 2026, an 11.00 percent increase from the same period of 2025. The group EBITDA margin reached 22.00 percent in the second quarter of 2026, compared with 19.00 percent in the second quarter of 2025, while financial leverage declined to 2.18 from 2.70, according to the Yahoo Finance transcript.

Price position and valuation

The UBS target implies 52.07 percent upside from the Lang & Schwarz price of EUR 32.88. That comparison uses the same euro currency on both sides and places the analyst view well above the current German trading indication.

Befesa's first-half 2026 operating cash flow reached EUR 71.00 million, up 10.00 percent from EUR 64.00 million in the first half of 2025. Net leverage stood at 2.18 at the end of June 2026, versus 2.70 in June 2025, giving the operating result a balance-sheet dimension.

Outlook before the next report

Management confirmed full-year 2026 adjusted EBITDA guidance of EUR 250.00 million to EUR 270.00 million during the first-half results call. The company also targeted leverage below 2.00 by year-end, while the UBS study dated October 12, 2026 anticipated confirmation of that outlook.

Stock price in Germany

The current trading indication is EUR 32.88 at Lang & Schwarz on October 20, 2026 at 4:00 p.m. CEST. The price level therefore remains the central market measure alongside the UBS target and the first-half operating figures.

The further course of trading is shown by the continuously updated real-time quote of Befesa stock.