Deutsche Bank Lifts Lenzing Target to EUR 14.30 While Analysts Stay on the Sidelines
Published on 11/15/2026 at 07:40 | Editorial boerse-global.de
Deutsche Bank Research nudged its price target for Lenzing higher on 9 November, raising the figure from EUR 12.70 to EUR 14.30, yet the analysts stopped short of turning bullish. The rating stayed at "Hold," meaning the more generous valuation comes without any change in the house's stance on the Austrian fibre maker.
The upgrade landed just days after Lenzing published nine-month figures for 2026 and reaffirmed its full-year earnings guidance. Revenue for the period came in at EUR 1.93 billion, a decline of 2.3% compared with the same stretch a year earlier. Adjusted EBITDA, by contrast, held almost flat at EUR 353 million, underlining that the company managed to defend its operating result even as sales slipped.
Profitability edged up. The adjusted EBITDA margin reached 18.3%, against 17.9% in the prior-year period. On an unadjusted basis, EBITDA for the nine months totalled EUR 316.4 million, a figure dragged down by EUR 36.6 million in one-off restructuring charges.
Should investors sell immediately? Or is it worth buying Lenzing?
Full-Year Guidance Reiterated
Management left its outlook for 2026 untouched, still projecting adjusted EBITDA of between EUR 430 million and EUR 460 million for the year as a whole. That confirmation gave Deutsche Bank the confidence to lift its target, though not enough to move off its neutral rating.
Alongside the earnings release, Lenzing has been pressing ahead with a broader push into nonwovens. On Thursday it put a EUR 27 million price tag on the expansion of short-cut fibre capacity at its Mobile site in Alabama, a project aimed squarely at nonwoven applications. The Alabama spend forms part of a EUR 50 million programme for the nonwovens business, which also sets aside EUR 23 million for the Lenzing facility in Austria.
Heiligenkreuz Draws Interest
The same day brought word that Lenzing has received several non-binding purchase offers for its Heiligenkreuz plant and is now reviewing them. The company intends to enter a further sales process with those bidders whose proposals point to an economically viable future for the site.
Investors have yet to price in much of the optimism implied by the higher target. Lenzing shares closed Friday at EUR 11.24, well below the EUR 14.30 mark Deutsche Bank set on 9 November.
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