Haleon stock falls 1.99 percent as JPMorgan cuts target

Published on 09/29/2026 at 17:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Haleon stock faces a GBp 295.00 JPMorgan target after a cut from GBp 315.00 on September 28, 2026. H1 organic growth reached 2.6 percent, below the 4 to 6 percent goal.

Arbeiter prüfen unbeschriftete Zahnpasta- und Tablettenpackungen an Produktionslinie — Haleon plc (ISIN GB00BMX86B70) betreibt moderne Produktionsanlagen für rezeptfreie Gesundheitsprodukte und Zahnpflegeartikel weltweit, Illustration mit AI erstellt.

Haleon (ISIN GB00BMX86B70) was trading at EUR 3.95 at Lang & Schwarz on September 29, 2026 at 5:00 p.m. CEST, down 1.99 percent from the prior close of EUR 4.03. The move came as JPMorgan cut its target to GBp 295.00 from GBp 315.00 and kept an Underweight rating, according to Morningstar on September 28, 2026.

Target cut sharpens the growth test

The lower target reflects concern about Haleon's near-term sales pace before its October 29 trading statement. Investing.com reported on September 28, 2026 that JPMorgan estimated third-quarter like-for-like growth at 3.00 percent, the bottom of Haleon's 3 percent to 5 percent full-year guidance range.

That creates a clear comparison with Haleon's medium-term 4 percent to 6 percent organic growth goal. The same report said JPMorgan reduced its fiscal 2027 and 2028 earnings estimates by 3 percent and 5 percent, respectively, while citing volume growth of 1 percent annually since 2022.

Margins outpace revenue growth

Haleon's latest reported half-year figures show stronger earnings conversion than top-line expansion. According to Openbook on September 17, 2026, revenue for the six months ended June 30, 2026 was GBP 5,602 million, up 2.2 percent reported and 2.6 percent organically.

Adjusted operating margin reached 24.3 percent, up 120 basis points, while adjusted diluted EPS grew 12.0 percent. The gap matters: earnings growth is currently running ahead of organic revenue growth, making margin delivery and volume recovery central tests for the next update.

Haleon's North American organic growth reached 3.1 percent in the second quarter, compared with 2.2 percent in the first quarter. The sequential improvement provides support for management's outlook, but the latest broker view places greater weight on whether that recovery can broaden beyond selected categories.

Haleon stock moves lower in Europe

Haleon stock was trading at EUR 3.95 at Lang & Schwarz on September 29, 2026 at 5:00 p.m. CEST, versus EUR 4.03 at the prior close on September 28, 2026. On the London Stock Exchange, the finance quote showed GBp 336.90 at 4:02 p.m. London time on September 29, 2026, within a 52-week range of GBp 274.40 to GBp 419.50.