Warburg raises target for Norma stock from EUR 20.40 to EUR 24.00

Published on 10/01/2026 at 14:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 adjusted EBIT reached EUR 7.60 million at a 3.60 percent margin. Norma stock costs EUR 17.63 on October 1, 2026 versus EUR 17.27.

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Norma (ISIN DE000A1H8BV3) was trading at EUR 17.63 at Lang & Schwarz on October 1, 2026 at 2:05 p.m. CEST, up 2.08 percent versus the prior close of EUR 17.27. On October 1, 2026, finanzen.at reported that Warburg Research raised its target from EUR 20.40 to EUR 24.00 and upgraded Norma from Hold to Buy. The change gives the stock a fresh valuation reference while the company works through its NewNORMA restructuring.

Warburg resets the valuation

Warburg analyst Sebastian Ubert cited valuation and capital returns, while the completed share buyback increases the book value per share, according to finanzen.at on October 1, 2026. The new EUR 24.00 target is EUR 6.37 above the Lang & Schwarz price, equal to 36.13 percent using the target-to-price comparison.

The market response was visible in the Xetra session, where Norma reached EUR 17.88, a 3.24 percent intraday gain, according to the same October 1 report. That level is below the new target, but the comparison still depends on execution of the operational plan rather than the rating change alone.

Q2 margin gives the thesis a test

In the second quarter of 2026, Norma reported adjusted EBIT of EUR 7.60 million and an adjusted EBIT margin of 3.60 percent, while Industry Applications grew 8.40 percent after currency effects, according to NORMA Group. The company also confirmed its forecast for fiscal year 2026. These figures put profitability, rather than revenue alone, at the center of the new valuation case.

Upcoming dates and the stock

NORMA Group's next strategic checkpoint is October 19, 2026, when it plans to present mid-term targets and future capital allocation. The company lists publication of its third-quarter 2026 interim statement for November 3, 2026, according to its investor-relations calendar at NORMA Group.

At EUR 17.63, the Lang & Schwarz price remains EUR 3.52 below its 52-week high of EUR 21.15 and EUR 5.15 above its 52-week low of EUR 12.48, both as of October 1, 2026. The further course of trading is shown by the continuously updated real-time quote of Norma stock.