ODDO BHF cuts target for Krones stock from EUR 138.00 to EUR 134.00

Published on 10/23/2026 at 10:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Krones lowers 2026 growth guidance to 1 to 2 percent on October 22, 2026. Krones stock costs EUR 112.20, 0.54 percent above the Xetra close.

Forecast and analyst response

ODDO BHF lowered its Krones target from EUR 138.00 to EUR 134.00 on October 23, 2026.
Krones reduced its currency-adjusted 2026 revenue growth outlook to 1 to 2 percent on October 22, 2026.
Krones stock trades at EUR 112.20 at 10:45 a.m. CEST at Lang & Schwarz on October 23, 2026, 0.54 percent above the Xetra close of October 22, 2026.

Schwarzweißfoto von Arbeitern beim Montieren industrieller Verpackungsmaschinen in einer Fabrikhalle — Schwarzweiß-Reportagefoto zur Krones AG DE0006335003 dokumentiert Arbeiter beim Zusammenbau industrieller Verpackungsmaschinen in großer Fertigungshalle authentisch, Illustration mit AI erstellt.

Krones (ISIN DE0006335003) saw ODDO BHF cut its price target from EUR 138.00 to EUR 134.00 on October 23, 2026, while keeping an Outperform rating, according to Goldesel. The move followed Krones' forecast reduction on October 22, 2026, which also prompted target cuts from Berenberg and Bernstein.

Forecast reset reaches 2028

Investegate reported that Krones reduced its currency-adjusted 2026 revenue growth forecast to 1 to 2 percent from 3 to 5 percent on October 22, 2026. The company also lowered its 2028 revenue target to EUR 6.0 billion to EUR 6.2 billion from around EUR 7.0 billion.

The preliminary first nine months of 2026 produced EUR 4.14 billion of currency-adjusted revenue, up 0.8 percent from the prior year. Preliminary EBITDA reached EUR 453 million, including a EUR 10 million benefit from US tariff refunds, while the adjusted EBITDA margin was 10.8 percent.

What does the reset mean for margins?

Krones kept its 2026 EBITDA margin target at 10.7 to 11.1 percent and its ROCE target at 19 to 20 percent. For 2028, however, the EBITDA margin target is now 11 to 12 percent, compared with 11 to 13 percent previously, while the ROCE target remains above 20 percent.

The numbers point to a narrower growth path rather than a full profitability reset. The 0.8 percent currency-adjusted revenue increase in the first three quarters contrasts with the unchanged 2026 margin range, leaving customer investment and fourth-quarter execution as the main operating tests.

Next report date is November 6

Krones plans to publish its third-quarter 2026 statement on November 6, 2026, according to Investegate. That release should show whether the preliminary EUR 453 million EBITDA figure and 10.8 percent adjusted margin held in the completed quarter.

Price and revised targets

At Lang & Schwarz, Krones was trading at EUR 112.20 on October 23, 2026, at 10:45 a.m. CEST, up 0.54 percent versus the Xetra close of October 22, 2026 at EUR 111.60. The current price sits below ODDO BHF's revised EUR 134.00 target and above Bernstein's EUR 108.00 target dated October 23, 2026.

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