ODDO BHF cuts Aurubis target to EUR 208: Aurubis stock sits 36.06 percent below its high

Published on 10/21/2026 at 09:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nine-month operating EBT rose 31.00 percent to EUR 374.00 million. Aurubis stock costs EUR 144.00 on October 21, 2026, 1.05 percent above Xetra close.

Analyst revision and operating data

ODDO BHF lowered its Aurubis target from EUR 210.00 to EUR 208.00 on October 12, 2026.
Nine-month operating EBT reached EUR 374.00 million in fiscal year 2025/26, up 31.00 percent.
Aurubis stock trades at EUR 144.00 at 9:41 a.m. CEST at Lang & Schwarz on October 21, 2026, 1.05 percent above the Xetra close of October 20, 2026.

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Aurubis (ISIN DE0006766504) trades at EUR 144.00 at Lang & Schwarz on October 21, 2026 at 9:41 a.m. CEST, up 1.05 percent versus the Xetra close of October 20, 2026 at EUR 142.50. Goldesel reported on October 12, 2026 that ODDO BHF cut its target from EUR 210.00 to EUR 208.00 while retaining an Outperform rating. The current price is 36.06 percent below the 52-week high of EUR 225.20.

Target cut keeps a positive rating

The ODDO BHF revision reduced the target by EUR 2.00, but the rating stayed at Outperform. The report also linked the company to an Aurubis recycling project selected as a strategic raw-material project by the European Union, a status that could support permitting and financing access.

NadirAlpha reported that operating EBT for the first nine months of fiscal year 2025/26 rose 31.00 percent to EUR 374.00 million, while revenue increased 29.00 percent to EUR 17,769.00 million. Aurubis guided toward the upper end of an operating EBT range of EUR 425.00 million to EUR 525.00 million for the full fiscal year.

What do the results mean for cash flow?

The earnings improvement has not removed the capital intensity of the expansion program. Nine-month net cash flow was minus EUR 28.00 million, compared with EUR 357.00 million in the prior-year period, while the latest reported quarter showed free cash flow of minus EUR 330.00 million. That contrast leaves the target revision dependent on whether stronger operating earnings convert into cash.

Three dated steps for Aurubis

On October 7, 2026, Aurubis announced an automated Hamburg facility for processing metal-bearing intermediate products, with a planned start at the end of 2028. On October 10, 2026, European Union authorities classified Aurubis projects in Bulgaria and Germany as strategic projects. On October 12, 2026, ODDO BHF cut its target from EUR 210.00 to EUR 208.00 and retained Outperform, as Goldesel reported.

Dates for the next results

MarketScreener lists December 2, 2026 for Aurubis' fiscal year 2025/26 earnings release. FNE lists February 4, 2027 for the first-quarter 2026/27 report.

Stock trades above its Xetra close

Aurubis stock was trading at EUR 144.00 at Lang & Schwarz on October 21, 2026 at 9:41 a.m. CEST, 1.05 percent above the Xetra close of October 20, 2026 at EUR 142.50. The further course of trading is shown by the continuously updated real-time quote of Aurubis stock.