RBC keeps EUR 21.00 target for Jeronimo Martins stock

Published on 10/19/2026 at 10:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half sales rose 5.10 percent to EUR 18.3 billion, with EBITDA up 7.60 percent. October 28, 2026 is the next results date for Jeronimo Martins stock.

Targets and operating milestones

RBC Capital kept a EUR 21.00 target on October 12, 2026.
First-half 2026 sales reached EUR 18.3 billion and EBITDA EUR 1.2 billion.
Third-quarter results are due on October 28, 2026, followed by fiscal-year results on March 24, 2027.

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Jeronimo Martins (ISIN PTJMT0AE0001) has a EUR 21.00 share-price target after RBC Capital maintained its Buy rating in a report released on October 12, 2026, according to Markets Insider. The target leaves the next results release as the immediate test for the grocery operator's earnings path.

Three targets shaped the picture

The recent sequence began with first-half 2026 results on July 29. Group sales rose 5.10 percent to EUR 18.3 billion, while EBITDA increased 7.60 percent to EUR 1.2 billion and the margin reached 6.80 percent, figures reported in the company's earnings-call transcript by Yahoo Finance.

On October 6, Erste Group analyst Piotr Bogusz upgraded the stock to Buy from Accumulate and set a EUR 21.30 target, according to Markets Insider. RBC then kept its Buy rating and EUR 21.00 target, making the October 12 update the latest dated analyst action in the recent sequence.

What does the margin signal?

The 6.80 percent first-half EBITDA margin was 0.20 percentage points above the 6.60 percent level of a year earlier, according to the earnings-call transcript. Management also said the 2026 investment program was capped at EUR 1.2 billion, while continued price competition and subdued consumer confidence remained operating constraints.

Two dates now matter

Barrons lists October 28, 2026 for third-quarter 2026 earnings and March 24, 2027 for fiscal-year 2026 earnings. Those dates give investors a clear sequence for testing sales growth, margin progress and the assumptions behind the EUR 21.00 target.

Stock trades on the Lisbon listing

Jeronimo Martins was last quoted at EUR 18.40 on Euronext Lisbon on October 19, 2026 at 9:52 a.m. CEST. The listing's market capitalization was EUR 11.6 billion as of October 19, 2026.