Tomra stock heads into Q3 results with a Moderate Buy consensus

Published on 10/04/2026 at 20:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Tomra stock carries Barclays' NOK 140.00 target from October 2, 2026. Q2 revenue rose 25 percent to EUR 405 million, with Q3 results due October 23, 2026.

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Tomra stock (ISIN NO0012470089) was last at NOK 91.10 on the Oslo Stock Exchange on October 2, 2026, at 4:29 p.m. CEST, up 0.77 percent from the prior close. The immediate catalyst is Barclays' Buy rating and NOK 140.00 price target, published on October 2, 2026, while the next quarterly report is scheduled for October 23, 2026.

Barclays keeps a NOK 140 target

According to Markets Insider on October 2, 2026, Barclays analyst Pallav Mittal maintained a Buy rating and set the target at NOK 140.00. The target stands 53.68 percent above the October 2 price of NOK 91.10, leaving the recommendation dependent on Tomra converting new deposit-return markets into recurring service revenue.

The published consensus is also constructive. MarketScreener lists a Buy consensus from 3 analysts, an average target of EUR 11.65, a high target of EUR 12.99 and a low target of EUR 9.563 as published on September 10, 2026. Those targets are stated in EUR and are not compared with the NOK share price.

Q2 revenue rose 25 percent

Tomra's latest reported quarter delivered the strongest operating evidence behind the analyst view. In Q2 2026, group revenue reached EUR 405 million, up 25 percent from Q2 2025, while EBITDA rose 30 percent to EUR 57 million, according to Yahoo Finance in the Q2 2026 earnings call transcript.

The Collection division supplied most of the acceleration, with revenue of EUR 246 million, up 45 percent year over year, and EBITDA of EUR 44 million versus EUR 27 million in Q2 2025. Recycling remained the counterweight: revenue fell 11 percent to EUR 51 million, although order intake increased 40 percent to EUR 58 million in the quarter.

France adds a growth risk

Tomra's expansion story still depends on regulation and customer investment. Investing.com reported on September 7, 2026, that France abandoned plans for a mandatory nationwide deposit-return system, a decision that could reduce the pace of new reverse-vending deployments.

Management expects the U.K. rollout to begin in Q4 2026, with most installations taking place in 2027. The company also expects second-half 2026 Collection revenue between EUR 400 million and EUR 440 million, while full-year Recycling revenue is guided to EUR 200 million-EUR 215 million, according to the Q2 2026 presentation.

Stock remains below its yearly high

At NOK 91.10 on October 2, 2026, Tomra stock stood 39.47 percent below its 52-week high of NOK 150.50 and above its 52-week low of NOK 89.80. Market capitalization was NOK 26.9 billion and trading volume was 604,830 shares on the same session.