Jefferies keeps EUR 12.50 target for Amplifon stock

Published on 10/08/2026 at 13:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue reached EUR 1.19 billion, up 1.30 percent at constant exchange rates. Amplifon stock costs EUR 11.98 on October 8, 2026 after EUR 12.13.

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Amplifon (ISIN IT0004056880) was trading at EUR 11.98 at Lang & Schwarz on October 8, 2026, down 1.24 percent versus its prior close. According to MarketScreener on October 2, 2026, Jefferies confirmed a Hold rating and a EUR 12.50 target for Amplifon stock. The target sits above the Lang & Schwarz price, while the next company test arrives on October 29.

Jefferies sees a measured path

Jefferies estimated third-quarter revenue of EUR 574 million, compared with EUR 563 million a year earlier and EUR 576 million from consensus, according to MarketScreener. Its adjusted EBITDA estimate of EUR 118 million compared with EUR 107 million a year earlier, implying a 20.50 percent margin versus 19.10 percent previously.

The same analysis put adjusted net income at EUR 26 million, up from EUR 19 million, a 37.00 percent increase. Jefferies also projected full-year 2026 revenue of EUR 2.43 billion, compared with EUR 2.40 billion in its earlier estimate.

Margins meet the October test

Amplifon's first-half 2026 revenue reached EUR 1.19 billion, up 1.30 percent at constant exchange rates, while organic growth reached 3.50 percent, according to Rankia. Second-quarter organic growth accelerated to 4.70 percent, and adjusted EBITDA rose to EUR 298.00 million, up 3.60 percent.

The adjusted EBITDA margin reached 25.10 percent in the first half, an improvement of 70 basis points, while adjusted free cash flow rose 70.00 percent year on year to EUR 68.00 million. Management's 2026 outlook calls for organic growth above 3.00 percent and an adjusted EBITDA margin improvement of about 100 basis points.

The combination of stronger operating figures and the pending GN Hearing transaction leaves investors with two measurable checkpoints: third-quarter revenue against the EUR 574 million Jefferies estimate and margin delivery against the 20.50 percent estimate. The acquisition also raises integration and financing demands, making the October update important for judging whether operational gains can offset execution risk.

October 29 brings two decisions

Rankia reported that Amplifon is scheduled to publish its third-quarter 2026 results on October 29, 2026, the same date planned for a shareholder meeting linked to the GN Hearing transaction. The date brings operating performance and transaction approval into one market event.

Amplifon is listed on Euronext Milan under ticker AMP and is a member of the FTSE MIB. Its 52-week range is EUR 7.84 to EUR 15.84, while its market capitalization was EUR 2.6 billion as of October 8, 2026.

Stock stays below its yearly high

Amplifon was trading at EUR 11.98 at Lang & Schwarz on October 8, 2026 at 12:59 p.m. CEST, down 1.24 percent versus the Lang & Schwarz prior close of EUR 12.13 on October 7, 2026. The further course of trading is shown by the continuously updated real-time quote of Amplifon stock.