Befesa

Befesa’s shares gained almost 15 percent over two trading days after the company reported strong third-quarter results and raised its earnings forecast. UBS and Metzler raised their price targets (UBS: €55, Metzler: €46) and reiterated buy recommendations. Befesa expects a US tax refund of around €26 million in the fourth quarter; without this one-off effect the adjusted operating result is now expected to be €260–270 million, and including the tax refund up to €296 million. From a chart-technical perspective, the stock is close to breaking above the year high at €38.10, which could unlock further upside potential. » Mere på deraktionaer.de

Befesa benefited in the third quarter from higher zinc prices and a recovery in the secondary aluminium business: revenue rose to almost €312m, adjusted EBITDA climbed to €67.8m and net profit to €23m. Because of the quarterly performance and an expected US tax credit, the company now expects adjusted operating profit of €286–296m for 2026 (€260–270m without the tax credit). Befesa attributes the upward revision to rising volumes, the current zinc price environment and efficiency gains, which are likely to be partly offset by inflation and higher costs. » Mere på finanzen.net

After raising its forecast, Befesa shares jumped as much as 9.5% to €36.40, reaching their highest level in three weeks. The reason is an expected tax credit of about $29 million from the US climate and industry support program Inflation Reduction Act for zinc production. For 2026 Befesa now sees adjusted EBITDA of €286–296 million; the midpoint of the guidance is above market expectations. » Mere på finanzen.net

Jefferies cut its price target for Befesa from €45 to €44 but kept its rating at "Buy", warning of a weaker third quarter. UBS raised its target from €47 to €50 ahead of results, expects about a 1% rise in steel-dust throughput in Q3 and anticipates the full-year outlook will be confirmed. Befesa shares fell in XETRA trading by as much as 3.89% to €34.60. » Mere på finanzen.net

Befesa increased adjusted EBITDA in the first half by 11% to €124m and net profit by 12% to €45m, while revenue was slightly down on a currency-adjusted basis. The margin improved from 19% to 21%; management reiterated the full-year guidance of €250–270m EBITDA and expects stronger momentum in the second half. Technically, the stock trades above all major moving averages, the RSI is around 60 and the annual high near €37.50 is coming back into reach; analyst targets go up to €45. The next test will be the nine-month figures on 29 October. » Mere på finanzen.net