Berenberg raises target for Serco stock from GBp 350.00 to GBp 400.00

Published on 10/20/2026 at 12:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Serco reported GBP 2.51 billion revenue for the half year ended June 30, 2026. Serco stock costs EUR 3.29 on October 20, 2026.

Valuation and operating update

Berenberg lifted its Serco target to GBp 400.00 on October 13, 2026.
Revenue reached GBP 2.51 billion for the half year ended June 30, 2026.
Serco stock trades at EUR 3.29 at 12:31 p.m. CEST at Lang & Schwarz on October 20, 2026.
The next sales and revenue release is scheduled for December 9, 2026.

Moderne Leitzentrale mit Monitoren für Transport- und Verkehrsüberwachung, Mitarbeiter an Arbeitsplätzen — Serco Group plc GB0033055624 zeigt moderne Leitzentrale mit Monitoren für Transport- und Verkehrsdaten im Überblick, Illustration mit AI erstellt.

Serco Group (ISIN GB0007973794) was trading at EUR 3.29 at Lang & Schwarz on October 20, 2026 at 12:31 p.m. CEST. Hargreaves Lansdown reported on October 13, 2026 that Berenberg raised its Serco target from GBp 350.00 to GBp 400.00 and reiterated a buy rating.

What changed on October 13?

The target increase gives the latest analyst view a clear numerical anchor. Berenberg linked its stance to Serco's exposure to defense, compliance, immigration and justice, while noting that defense accounts for more than half of earnings and North America generates 50 percent of profits, according to Hargreaves Lansdown.

Three dated Serco developments

On August 6, 2026, Serco reported revenue of GBP 2.51 billion for the half year ended June 30, 2026, compared with GBP 2.50 billion expected, while adjusted earnings per share were GBP 0.102, according to Investing.com. On August 11, 2026, Serco announced a buyback program of up to GBP 75 million covering 100,206,031 shares, as listed by MarketScreener. On October 13, 2026, Berenberg raised its target from GBp 350.00 to GBp 400.00.

When is the next update?

Serco's next sales and revenue release is scheduled for December 9, 2026, according to the company calendar displayed by MarketScreener. That date will give investors a fresh test of the first-half revenue trend and the buyback's effect on the share count.

Serco stock stays tied to execution

The combination of a higher analyst target, GBP 2.51 billion in first-half revenue and a large repurchase program puts execution at the center of the investment case. The key watchpoints are contract momentum, cash generation and whether the higher-margin areas identified by Berenberg translate into sustained earnings growth. Serco stock was trading at EUR 3.29 at Lang & Schwarz on October 20, 2026 at 12:31 p.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Serco stock.