Amplifon confirms growth goals and analysts rate Amplifon stock Buy

Published on 10/06/2026 at 17:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Equita keeps a EUR 14.00 target for Amplifon stock on September 28, 2026. H1 revenue rose 1.30 percent to EUR 1.19 billion.

3D-Architekturvisualisierung eines modernen Glasbürogebäudes mit Grünflächen — Architektur-Render eines modernen Bürohauptsitzes visualisiert Unternehmensstandort von Amplifon S.p.A., ISIN IT0004056880, Sektor Gesundheitswesen, Illustration mit AI erstellt.

Amplifon confirms its 2026 growth goals, while Equita keeps a Buy rating and a EUR 14.00 target for Amplifon stock, according to Il Sole 24 ORE on September 28, 2026. The assessment arrives ahead of Amplifon's planned third-quarter results and the next stage of its GN Hearing transaction.

Growth improves in the first half

Rankia reports that first-half 2026 revenue reached EUR 1.19 billion, up 1.30 percent at constant exchange rates, while organic growth reached 3.50 percent. In the second quarter, organic growth accelerated to 4.70 percent, giving investors a clearer comparison with the 3.50 percent first-half rate.

Adjusted EBITDA reached EUR 298.0 million in the first half of 2026, up 3.60 percent, and the adjusted EBITDA margin rose to 25.10 percent, an improvement of 70 basis points from the prior-year period. Adjusted free cash flow reached EUR 68.0 million, up 70.00 percent from the first half of 2025.

GN Hearing sets the next test

The GN Hearing acquisition remains the central strategic variable. Rankia reports that the transaction is valued at EUR 2.3 billion on a cash-free and debt-free basis, with EUR 1.69 billion in cash and 56.0 million new Amplifon shares planned for GN Store Nord at closing.

Amplifon has kept its 2026 goals at organic growth above 3 percent and an adjusted EBITDA margin improvement of 100 basis points. The combination of stronger operating figures and acquisition execution explains why the analyst view is constructive, while the new-share component keeps dilution relevant to the valuation.

Analyst target meets a measured outlook

According to MarketScreener on October 2, 2026, Jefferies maintained a Hold rating and a EUR 12.50 target. Jefferies estimates third-quarter revenue of EUR 574 million versus EUR 563 million a year earlier, a 1.95 percent increase, and adjusted EBITDA of EUR 118 million versus EUR 107 million.

The next scheduled checkpoint is October 29, 2026. Investing.com lists that date for the third-quarter report, placing the operating update close to the planned GN Hearing transaction timetable.

Valuation remains below the yearly high

Amplifon had a market capitalization of EUR 2.7 billion and a 52-week range of EUR 7.84 to EUR 15.84 as of October 6, 2026. The range shows that the stock remains EUR 8.00 below its yearly high, while the first-half margin and cash-flow improvements provide the operational figures needed to test the recovery narrative.

Price source: no dated euro quote from a permitted German venue was established for October 6, 2026.