Kongsberg stock falls 1.99 percent as Barclays trims target

Published on 09/29/2026 at 10:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kongsberg stock faced a Barclays target cut from NOK 440.00 to NOK 435.00 on September 28, 2026. Q2 revenue rose 31.3 percent year over year to NOK 10.389 billion.

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Kongsberg stock (ISIN NO0003043309) was trading at NOK 305.30 on the Oslo Stock Exchange on September 29, 2026, at 9:53 a.m. CEST, down 1.99 percent from NOK 311.50. The immediate market reference is Barclays, which reduced its price target from NOK 440.00 to NOK 435.00 on September 28, 2026, while maintaining its Buy rating, according to MarketScreener.

Barclays trims its target

The change leaves Barclays target at NOK 435.00, still materially above the September 29 price of NOK 305.30. The target adjustment is therefore a valuation signal rather than a change to the Buy recommendation, and it gives the latest analyst action a more cautious edge.

The broader analyst picture remains higher than the market quote. Investing.com lists an average 12-month target of NOK 395.91 from 11 analysts, while six analysts carry Buy ratings, four rate the stock Hold and one rates it Sell, according to Investing.com.

Q2 growth supports the case

Kongsberg entered the second half of 2026 with Q2 revenue of NOK 10.389 billion, up 31.3 percent year over year, and an EBIT margin of 16.1 percent. The company also reported an order backlog of NOK 157.5 billion, 35.1 percent above the year-earlier level, according to Muffett Investments.

That combination matters because backlog growth is running ahead of the share price picture. Q2 order intake reached NOK 17.067 billion, producing a 1.64 book-to-bill ratio, so the operating data point to continued demand even as the latest target cut limits the near-term valuation argument.

Results date sets the next checkpoint

Kongsberg's investor-relations page identifies the Q2 report as a July 13, 2026 publication and lists the group's financial calendar, while the next Q3 2026 earnings release is scheduled for October 29, 2026, according to Kongsberg and MarketScreener. The report will test whether the backlog is converting into revenue without eroding the margin profile.

Kongsberg stock trades below its yearly high

Kongsberg stock was last at NOK 305.30 on September 29, 2026, at 9:53 a.m. CEST, with 197,199 shares traded. Its 52-week range was NOK 228.50 to NOK 427.00, while market capitalization stood at NOK 268.5 billion.