KBC Securities cuts target for Barco stock to EUR 9.70

Published on 10/02/2026 at 12:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half sales fell 8.00 percent to EUR 418.00 million. Barco stock costs EUR 7.25 on October 2, 2026 after EUR 7.24, plus 0.14 percent.

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Barco (ISIN BE0974362940) was trading at EUR 7.25 at Lang & Schwarz on October 2, 2026, up EUR 0.01 or 0.14 percent versus the prior close of EUR 7.24. The latest analyst action came on September 29, 2026, when KBC Securities cut its target from EUR 10.70 to EUR 9.70 while keeping a Hold rating, according to Beursduivel.

Target cut highlights delivery risk

The KBC report shifted attention from Barco's strategic direction to the timing of stronger delivery. The broker said the company must convert healthy order intake and improving market conditions into higher revenue, margins and cash flow.

KBC also expects Barco's book-to-bill ratio to remain above 1.00 in 2026. That comparison matters because a ratio above 1.00 indicates orders are running ahead of recognized sales, but it does not remove the execution burden in the second half.

First-half sales fall 8.00 percent

Barco's first-half 2026 sales fell 8.00 percent year over year to EUR 418.00 million, while EBITDA reached EUR 26.00 million, or 6.00 percent of sales, according to Yahoo Finance on September 25, 2026. Orders totaled EUR 468.00 million, down 4.00 percent year over year, while the midyear order book rose to EUR 568.00 million from EUR 492.00 million at the end of 2025.

The split between sales and orders explains the market's focus on timing. The order book increased by EUR 76.00 million, or 15.45 percent, from the end of 2025, yet first-half revenue contracted. Management's full-year outlook still calls for sales above the prior year and an EBITDA margin of 11.00 to 12.00 percent, leaving the second half responsible for a marked profitability improvement.

Stock stays far below its yearly high

Barco's Lang & Schwarz price of EUR 7.25 sits 47.08 percent below the 52-week high of EUR 13.70 and only EUR 0.10 above the 52-week low of EUR 7.15, both as of October 2, 2026. Market capitalization stood at EUR 590.6 million on the same date, giving the target revision a direct valuation context without changing the company's operational challenge.

The company is listed on Euronext Brussels and operates across healthcare, entertainment and enterprise markets, according to Barco's investor-relations page. A regulatory filing also identifies Barco, the Euronext Brussels venue and ISIN BE0974362940 in connection with a September 18, 2026 share purchase by a person linked to director Charles Beauduin, as reported by FSMA.

Execution remains the key variable

Barco combines a larger order book with lower first-half sales and a reduced analyst target. For the second half, the central test is whether order conversion and operating leverage can lift the EBITDA margin from 6.00 percent in the first half toward the 11.00 to 12.00 percent full-year range.

Barco was trading at EUR 7.25 at Lang & Schwarz on October 2, 2026 at 12:33 p.m. CEST, plus 0.14 percent versus the Lang & Schwarz prior close of EUR 7.24. The further course of trading is shown by the continuously updated real-time quote of Barco stock.