Goldman adds IMCD to conviction list. IMCD stock gains 2.21 percent

Published on 10/14/2026 at 12:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman set a EUR 133.00 target on October 2, 2026. IMCD stock trades at EUR 105.53 on October 14, 2026 versus EUR 103.25.

Conviction list and earnings momentum

Goldman Sachs added IMCD to its October conviction list with a EUR 133.00 target on October 2, 2026.
IMCD reported EUR 285.00 million of EBITA in the first half of 2026, up 8.00 percent on a constant currency basis.
IMCD stock trades at EUR 105.53 at 12:31 p.m. CEST at Lang & Schwarz on October 14, 2026, 2.21 percent above the Xetra close of October 13, 2026.

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IMCD (ISIN NL0010801007) stock trades at EUR 105.53 at Lang & Schwarz on October 14, 2026 at 12:31 p.m. CEST, up 2.21 percent versus the Xetra close of EUR 103.25 on October 13, 2026. The latest company-specific signal is Goldman Sachs adding IMCD to its October conviction list on October 2, 2026, with a EUR 133.00 12-month price target.

Goldman sees margin potential

As CNBC reported on October 2, 2026, Goldman Sachs added IMCD to its European Conviction List for October. The bank set a EUR 133.00 12-month target and estimated total return potential of 40.00 percent, while pointing to pricing power and a more specialized product mix.

Goldman's margin thesis is ambitious: the report cited an EBITA margin rising from 10.40 percent in 2025 to an estimated 27.00 percent in 2027. That forecast is a forward assessment, not a current reported result, but it gives the share price a clear valuation reference above the current EUR 105.53 quote.

First half shows stronger growth

IMCD's latest reported period was the first half of 2026. In the earnings call transcript, Yahoo Finance reported gross profit of EUR 658.00 million, up 7.00 percent on a constant currency basis, while EBITA reached EUR 285.00 million, up 8.00 percent on the same basis.

The cash conversion figure adds another angle. Free cash flow rose to EUR 222.00 million in the first half of 2026, producing a cash conversion margin of 76.20 percent. Management also described a promising start to the third quarter, while the Americas remained less developed than the stronger regions.

What does the growth mean for margins?

The reported numbers show a company balancing acquisition-led expansion with improving organic momentum. FX-adjusted revenue increased 11.00 percent in the first half of 2026, including 3.00 percent organic growth and 7.00 percent from acquisitions. Gross profit as a percentage of revenue was 24.90 percent, 0.70 percentage points below the prior-year level, partly because acquired businesses carried lower margins.

Three dated milestones

On July 29, 2026, IMCD published its first half of 2026 results, including EUR 285.00 million of EBITA. On October 2, 2026, Goldman Sachs added IMCD to its conviction list and set a EUR 133.00 target. On October 13, 2026, the stock's Xetra reference close was EUR 103.25, before the current Lang & Schwarz quote moved to EUR 105.53.

Next reporting dates

IMCD's investor-relations calendar lists the publication of its first nine months 2026 results for November 5, 2026, followed by full-year 2026 results on February 19, 2027, according to IMCD.

Stock advances above Xetra close

At 12:31 p.m. CEST on October 14, 2026, IMCD stock was trading at EUR 105.53 at Lang & Schwarz, EUR 2.28 or 2.21 percent above the Xetra close of October 13, 2026 at EUR 103.25. The current quote equals the reported 52-week high of EUR 105.35 from the primary-market data snapshot, placing the intraday Lang & Schwarz price EUR 0.18 above that reference level. The further course of trading is shown by the continuously updated real-time quote of IMCD stock.