Warburg Research raises target for Norma stock to EUR 24.00

Published on 10/02/2026 at 15:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Warburg Research upgrades Norma to Buy on October 1, 2026. Norma stock costs EUR 16.75 after EUR 17.00, down 1.47 percent. The 52-week high is EUR 21.15.

Aquarellmalerei einer deutschen Flussstadt mit Fachwerkhäusern und Kirchturm — Norma Group DE000A1H8BV3 symbolisiert durch eine Aquarell-Stadtansicht einer malerischen deutschen Kleinstadt am Fluss Maintal, Illustration mit AI erstellt.

NORMA Group (ISIN DE000A1H8BV3) was trading at EUR 16.75 at Lang & Schwarz on October 2, 2026 at 3:13 p.m. CEST, down 1.47 percent from the EUR 17.00 prior close. The latest company-specific market event is an analyst upgrade: DER AKTIONÄR reported on October 1, 2026 that Warburg Research raised its price target from EUR 20.40 to EUR 24.00 and lifted its rating from Hold to Buy.

Target rises to EUR 24.00

The new target stands 43.28 percent above the Lang & Schwarz price, calculated against EUR 16.75. Warburg Research attributed the upgrade to valuation and capital returns, with the share buyback increasing book value per share, according to DER AKTIONÄR on October 1, 2026. The comparison matters because the target now sits EUR 3.60 above the previous EUR 20.40 level.

Second-quarter margin reaches 3.60 percent

NORMA Group reported adjusted EBIT of EUR 7.60 million and an adjusted EBIT margin of 3.60 percent in the second quarter of 2026, while Industry Applications grew 8.40 percent after currency adjustment. The company also confirmed its fiscal-year 2026 forecast in its investor-relations update dated August 11, 2026, providing an operating benchmark for the new valuation. The reported figures and outlook are published by NORMA Group.

Buyback reshapes the capital base

The second public share buyback offer was fully utilized at EUR 208 million, with 9,306,113 treasury shares acquired, equal to 29.21 percent of current share capital. Those shares are scheduled for cancellation under the annual meeting resolution, while the total capital return linked to the Water Management divestment reaches up to EUR 260 million, according to NORMA Group.

Stock sits below its yearly high

The Lang & Schwarz price of EUR 16.75 is 20.80 percent below the 52-week high of EUR 21.15 and 34.30 percent above the 52-week low of EUR 12.48, both as of October 2, 2026. The next scheduled company milestone is publication of the third-quarter 2026 interim statement on November 3, 2026, according to NORMA Group. The further course of trading is shown by the continuously updated real-time quote of Norma stock.