Jefferies reaffirms Hold rating on Holcim stock

Published on 10/12/2026 at 10:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Jefferies set a CHF 73.50 target on October 2, 2026 and kept Hold. Holcim stock costs EUR 68.35 versus EUR 68.14.

Key points in brief

Jefferies maintained a Hold rating on Holcim and set a CHF 73.50 price target on October 2, 2026.
Holcim stock was at EUR 68.35 at Lang & Schwarz on October 12, 2026, 0.31 percent above the October 9 Xetra close of EUR 68.14.
The average analyst target was CHF 81.36, leaving Jefferies target CHF 7.86 below consensus.
Holcim reported CHF 15.7 billion in net sales for fiscal 2025 and has its next trading update scheduled for October 23, 2026.

Grafische Bauhaus-Illustration eines modernistischen Hauses mit klassischen Säulen in strengem geometrischen Stil. Flächige Primärfarben — Rot, Blau und Gelb — kombiniert mit Betongrau und Weiss auf einem rasterartigen Hintergrund. Keine Farbverläufe, nur — Holcim AG CH0012214059 Bauhaus Poster geometrisches Haus mit Säulen Primärfarben und klassischem Betongrau, Illustration mit AI erstellt.

Holcim stock (ISIN CH0012214059) was trading at EUR 68.35 at Lang & Schwarz on October 12, 2026, at 10:06 a.m. CEST, 0.31 percent above the Xetra close of October 9, 2026 at EUR 68.14. Jefferies analyst Glynis Johnson maintained a Hold rating on Holcim on October 2, 2026 and set a CHF 73.50 price target, as Markets Insider reported.

Jefferies stays below consensus

The CHF 73.50 target is CHF 7.86 below the average analyst target of CHF 81.36 cited in the same October 2 report. That gap gives the Hold call a cautious valuation signal even as the target remains above the current SIX reference level.

Three dated company developments

On June 19, 2026, Holcim completed its acquisition of Xella; the company describes a group with more than 50,000 employees in 45 countries, according to its investor information. On September 9, 2026, Holcim invested in Cloud Cycle, while fiscal 2025 net sales stood at CHF 15.7 billion, the same company source states. On October 2, 2026, Jefferies maintained Hold and set the CHF 73.50 target, as Markets Insider reported.

What comes with the next update?

Holcim's next scheduled event is its Q3 2026 trading update on October 23, 2026, with an analyst webcast at 10:00 a.m. CEST, according to the Holcim investor calendar. The company also lists February 25, 2027 for its 2026 full-year results. These dates give investors a defined timetable for testing the growth narrative behind the current rating.

Range leaves room for a wider test

Holcim's 52-week range on the SIX Swiss Exchange was CHF 60.10 to CHF 82.54 as of October 12, 2026. Its market capitalization was CHF 35.3 billion on the same date, placing the CHF 73.50 Jefferies target 11.50 percent below the upper end of that range and CHF 5.96 above the lower end.

Stock trades above the Xetra close

At Lang & Schwarz, Holcim was trading at EUR 68.35 on October 12, 2026 at 10:06 a.m. CEST, up EUR 0.21, or 0.31 percent, versus the Xetra close of October 9, 2026 at EUR 68.14. The reference company is Holcim Ltd, listed on the SIX Swiss Exchange under HOLN. The further course of trading is shown by the continuously updated real-time quote of Holcim stock.