Morgan Stanley raises target for Edenred stock from EUR 34 to EUR 35

Published on 10/12/2026 at 09:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Morgan Stanley raised its target to EUR 35 on September 21, 2026. Edenred stock was EUR 28.24 on October 12, 2026 versus EUR 30.85.

Key points in brief

Morgan Stanley raised its Edenred target from EUR 34.00 to EUR 35.00 while keeping an Overweight rating on September 21, 2026.
Edenred reported first-half 2026 revenue of EUR 1.47 billion and net income of EUR 214.0 million.
Edenred stock was trading at EUR 28.24 at Lang & Schwarz on October 12, 2026, 8.46 percent below its EUR 30.85 52-week high.
The company is scheduled to publish third-quarter 2026 revenue on October 21, 2026.

Edenred SE, FR0010908533, Illustration mit AI erstellt.

Edenred (FR0010908533) was trading at EUR 28.24 at Lang & Schwarz on October 12, 2026 at 9:05 a.m. CEST, while Morgan Stanley had raised its target from EUR 34.00 to EUR 35.00 on September 21, 2026. The bank kept its Overweight rating, but its target revision came with lower operating forecasts for 2026 through 2028.

Target rises as forecasts soften

According to BFM Bourse on September 21, 2026, Morgan Stanley reduced its 2026 through 2028 revenue and operating profit forecasts by nearly 2 percent, while its earnings per share estimates fell by 1.50 percent on average. The revision reflected the finalization of Edenred Pay North America and the effect of a stronger euro.

Morgan Stanley still expected 2026 operating profit of EUR 1.251 billion, inside Edenred's company guidance range of EUR 1.230 billion to EUR 1.270 billion. The combination of a higher target and lower operating assumptions points to valuation timing, rather than a simple upgrade to the earnings outlook.

Three milestones shape the timeline

On July 24, 2026, Edenred's first-half results showed revenue of EUR 1.47 billion, up 1.50 percent from the first half of 2025, while net income fell 8.90 percent to EUR 214.0 million, according to Simply Wall St. On September 3, 2026, the company announced the appointment of Fabrizio Ruggiero as chief operating officer for Benefits and Engagement; Edenred's platform serves more than 60 million users, according to the company's official website. The September 21 target move to EUR 35.00 is the latest of these milestones.

What comes next for revenue?

Edenred's next scheduled company date is October 21, 2026, when it plans to publish third-quarter 2026 revenue, according to the Edenred website. Simply Wall St lists March 2, 2027, for Edenred's fiscal-year 2026 results. Those dates give investors two separate checkpoints after the first-half revenue growth of 1.50 percent and net-income decline of 8.90 percent.

Stock remains below its yearly high

The current Lang & Schwarz price of EUR 28.24 stands 8.46 percent below the EUR 30.85 52-week high and implies a market capitalization of EUR 6.7 billion as of October 9, 2026. The gap leaves the next revenue update as the clearest test of whether the company's cost controls and payment platform can offset the forecast pressure identified by Morgan Stanley.

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