Berenberg upgrades Clariant stock to Buy from Hold

Published on 10/05/2026 at 13:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Berenberg moved Clariant stock to Buy from Hold on September 21, 2026. It costs EUR 11.39 after EUR 11.39, with Q3 due November 3, 2026.

Clariant AG (CH0012142631) - SW-Reportage — Clariant AG (CH0012142631) in dokumentarischer Schwarzweiß-Reportage-Fotografie mit Fokus auf Details der Arbeitsumgebung, Illustration mit AI erstellt.

Clariant (ISIN CH0012142631) was trading at EUR 11.39 at Lang & Schwarz on October 5, 2026 at 12:58 p.m. CEST, unchanged from the prior close of EUR 11.39. Berenberg upgraded Clariant from Hold to Buy on September 21, 2026, according to Fintel.

Berenberg changes the rating

The rating change is the clearest recent analyst signal for Clariant. Fintel reports that the prior Hold rating had been maintained on May 17, 2026. The same report lists 22 recommendations in the period beginning September 1, 2026, including 2 strong buys, 11 buys, 7 holds and 2 sells.

Half-year margins improve

Clariant reported sales of CHF 1.859 billion for the first half of 2026, with sales flat in local currency excluding portfolio pruning and down 1.2 percent including those actions. In the Q2 2026 earnings call published by Yahoo Finance, management reported EBITDA before exceptional items of CHF 331 million for the first half, down 7.7 percent from the prior-year period. The corresponding margin was 17.8 percent, compared with 18.1 percent in the first half of 2025.

Catalysts remain the drag

The division mix explains why the margin picture is more resilient than the sales trend. According to Yahoo Finance, Care Chemicals sales increased 2.3 percent in local currency during the first half excluding portfolio pruning, while Catalysts sales declined 8.3 percent. Adsorbents and Additives sales increased 1.3 percent. Clariant also reported a 52 percent free cash flow conversion rate for the last 12 months, up from 37 percent at the end of the first half of 2025.

Stock stays below the Swiss high

Clariant had a market capitalization of CHF 3.5 billion as of October 5, 2026, while its primary SIX listing stood within a 52-week range of CHF 6.55 to CHF 11.04. The company is scheduled to enter its quiet period on October 8, 2026, ahead of third-quarter reporting expected on November 3, 2026, according to Clariant. The further course of trading is shown by the continuously updated real-time quote of Clariant stock.