Bernstein cut Lotus Bakeries stock rating to Market Perform

Published on 10/08/2026 at 11:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 14.00 percent to EUR 749.10 million in first-half 2026. Lotus Bakeries stock costs EUR 12,450.00, plus 0.32 percent versus EUR 12,410.00.

Isometrisches 3D-Diagramm der Keksproduktion von Feld bis Lieferwagen — Isometrische 3D-Grafik zeigt die Wertschöpfungskette von Lotus Bakeries NV BE0003604155 von Getreidefeld bis Vertrieb, Illustration mit AI erstellt.

Bernstein cut Lotus Bakeries stock's rating from Outperform to Market Perform on September 2, 2026, while raising its price target to EUR 13,000.00, according to Dividendnieuws. The move puts valuation at the center of the Lotus Bakeries story as the company continues to expand Biscoff capacity.

Revenue growth supports the case

Lotus Bakeries generated EUR 749.10 million of revenue in the first half of 2026, up 14.00 percent from EUR 657.30 million in the first half of 2025, according to Factors Today. The same period produced underlying EBIT of EUR 131.00 million and a 17.50 percent margin, while reported net income reached EUR 98.10 million.

The operating figures give the rating change a useful counterpoint. Revenue growth remains substantial, but the Market Perform stance signals that a strong business update does not automatically remove valuation risk at a share price above EUR 12,000.00.

Capacity spending raises the stakes

Lotus Bakeries plans to invest at least EUR 500.00 million in Biscoff production capacity across Belgium, Thailand and the United States through 2030, Asia Food Beverages reported on September 27, 2026. That program increases the importance of volume growth because new facilities must support revenue while protecting the 17.50 percent underlying EBIT margin reported for the first half.

The company also remains concentrated around Biscoff, whose revenue and volume increased by more than 20.00 percent in the first half of 2026, according to Factors Today. For investors, the key comparison is therefore clear: 14.00 percent group revenue growth must translate into profitable use of the EUR 500.00 million capacity program.

Stock remains below the yearly high

Lotus Bakeries was trading at EUR 12,450.00 at Lang & Schwarz on October 8, 2026 at 11:34 a.m. CEST, up 0.32 percent versus the prior close of EUR 12,410.00 on October 7, 2026. The reference price is EUR 750.00 below the 52-week high of EUR 13,200.00, while the market capitalization stands at EUR 10.1 billion as of October 8, 2026.

The further course of trading is shown by the continuously updated real-time quote of Lotus Bakeries stock.