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

Published on 10/08/2026 at 17:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

NORMA bought 9,306,113 shares for EUR 208 million on September 18, 2026. Norma stock costs EUR 14.95 on October 8, 2026 versus EUR 15.60 at Xetra.

Key points in brief

Warburg Research raised its Norma target from EUR 20.40 to EUR 24.00 and upgraded the stock to Buy on October 1, 2026.
NORMA completed a EUR 208 million buyback, acquiring 9,306,113 shares equal to 29.21 percent of current share capital.
Norma stock stood at EUR 14.95 at Lang & Schwarz on October 8, 2026, versus the EUR 15.60 Xetra close, down 4.17 percent.
The strategy update is scheduled for October 19, 2026, followed by the second-quarter 2026 interim statement on November 3, 2026.

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Norma stock (ISIN DE000A1H8BV3) has a EUR 24.00 price target after Warburg Research raised its target from EUR 20.40 and upgraded the shares from Hold to Buy on October 1, 2026. According to dpa-AFX, analyst Sebastian Ubert cited the valuation, capital returns and a higher book value per share after the buyback.

Three dates explain the reset

The first milestone came on June 10, 2026, when NORMA secured a contract worth up to EUR 22 million over seven years for heavy-duty engine applications. On August 11, 2026, adjusted EBIT reached EUR 7.6 million in the second quarter of 2026, while the adjusted EBIT margin improved to 3.6 percent, according to NORMA Group.

The latest dated event was the October 1, 2026 analyst action: Warburg lifted the target by EUR 3.60, a 17.65 percent increase from EUR 20.40 to EUR 24.00. That target is 60.54 percent above the Lang & Schwarz price of EUR 14.95, using the same euro currency.

What does the buyback change?

NORMA completed its second public buyback on September 18, 2026, acquiring 9,306,113 shares for EUR 208 million, equal to 29.21 percent of current share capital, according to NORMA Group. The acquired shares are to be canceled, and the company said the broader capital return linked to the Water Management divestment reached EUR 260 million.

The second-quarter figures show why the analyst upgrade still depends on execution: revenue was EUR 211.8 million, while adjusted EBIT was EUR 7.6 million and the margin was 3.6 percent. Industry Applications grew 8.4 percent on a currency-adjusted basis in that quarter, giving the industrial business a measurable counterweight to weaker mobility demand.

Two scheduled dates remain

NORMA has scheduled its strategy update for October 19, 2026, followed by publication of its third-quarter 2026 interim statement on November 3, 2026, according to NORMA Group. The strategy event is expected to address medium-term planning and future capital allocation, while the interim statement will test the operating trend against the second-quarter margin.

Stock remains below its yearly high

Norma stock stood at EUR 14.95 at Lang & Schwarz on October 8, 2026 at 5:10 p.m. CEST, down 4.17 percent versus the Xetra close of EUR 15.60 on October 7, 2026. The price was 29.31 percent below the EUR 21.15 52-week high and EUR 2.47 above the EUR 12.48 low. The further course of trading is shown by the continuously updated real-time quote of Norma stock.