Haleon stock faces a 295 GBp JPMorgan target cut

Published on 10/05/2026 at 18:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Haleon stock heads toward its October 29 trading statement after H1 2026 revenue reached GBP 5.602 billion, up 2.2 percent reported. Adjusted operating margin reached 24.3 percent.

Isometrische Illustration einer Wertschöpfungskette von Fabrik bis Apothekenregal — Haleon plc (ISIN GB00BMX86B70) organisiert eine globale Wertschöpfungskette von Produktion bis Apothekenregal effizient, Illustration mit AI erstellt.

Haleon (ISIN GB00BMX86B70) closed at GBp 328.30 on October 2, 2026, with a daily gain of 0.15 percent on the London Stock Exchange. The central issue for the next report is growth: Markets Insider reported on September 28, 2026, that JPMorgan cut its target to 295 GBp from 315 GBp and kept an Underweight rating.

JPMorgan flags a growth test

JPMorgan also placed Haleon on Negative Catalyst Watch ahead of the October 29 results. Its research pointed to third-quarter like-for-like growth of 3 percent, the bottom of Haleon's 3 percent to 5 percent guidance range for a second consecutive year, according to Yahoo Finance.

The same report said JPMorgan reduced its 2027 adjusted EPS forecast by 3 percent to 22 pence and its 2028 forecast by 5 percent to 23.09 pence. The bank also lowered its 2027 like-for-like growth forecast to 3.3 percent from 4.1 percent, making volume recovery the key operational question.

H1 margins outpace revenue

Haleon's latest substantive report covered the six months ended June 30, 2026. Revenue reached GBP 5.602 billion, up 2.2 percent on a reported basis and 2.6 percent organically, according to Openbook.

The composition matters. Price contributed 2.1 percentage points of organic growth, while volume and mix contributed 0.5 percentage points; second-quarter organic growth accelerated to 3.1 percent from 2.2 percent in the first quarter. Adjusted operating margin reached 24.3 percent, up 120 basis points, and adjusted diluted EPS increased 12.0 percent, according to Openbook.

October report sets the checkpoint

Haleon continues to guide for 3 percent to 5 percent organic revenue growth in fiscal year 2026 and high single-digit adjusted operating profit growth at constant currency. The company lists its Q3 2026 Trading Statement for October 29, 2026, on its investor relations page.

For investors, the tension is visible in the gap between revenue and profit growth. A 2.6 percent organic top-line increase accompanied a 12.0 percent adjusted EPS increase, leaving the October update to show whether margin gains can continue while volume contributes more than 0.5 percentage points.

Haleon stock stays below its yearly high

Haleon stock closed at GBp 328.30 on October 2, 2026, up 0.15 percent on the session. Its 52-week range was GBp 317.90 to GBp 416.10, while market capitalization stood at GBP 28.9 billion as of October 4, 2026.