07:18 AM EST, 11/05/2026 (MT Newswires) -- Berenberg revised its price target and estimates for Heidelberg Materials (HEI.F) following the German building materials company's third-quarter results. The research firm reduced its price target on the stock to 210 euros from 215 euros, with an unchanged buy rating, according to a Thursday note. Analysts also trimmed their EBIT projections by an average of 2% from 2026 to 2028. "In what remains a challenging macroeconomic and geopolitical environment - with the twin headwinds of higher global rates and higher costs - we think Heidelberg Materials delivered a resilient performance in Q3 with a notable acceleration from H1. Given our expectation for robust (c7%) EBIT growth in 2027 and 2028 (including a return to positive price/cost spread), combined with an attractive valuation, we retain our positive view," analysts said. For the three months ended Sept. 30, Heidelberg Materials logged a revenue of 6.41 billion euros, corresponding to a 10.4% annual increase and a 6% growth on a like-for-like basis. For full-year 2026, the company reiterated its guidance of 3.40 billion euros to 3.65 billion euros in result from current operations. Against this backdrop, Berenberg raised its sales estimates for 2026 to 2028, while those for EBITDA and EPS were cut.

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