UPM-Kymmene stock gains 0.73 percent as target rises

Published on 10/03/2026 at 23:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

UPM-Kymmene stock carries a EUR 30 DNB Carnegie target after the bank upgraded its rating on October 2, 2026. Q2 comparable EBIT reached EUR 212 million, up 71 percent year over year.

Schwarzweißfoto von Arbeitern an riesigen Papierrollen in einer Fabrikhalle — Schwarzweiß-Reportagefoto aus einer Papierfabrik zeigt UPM-Kymmene Oyj, ISIN FI0009005987, dokumentarisch und industriell geprägt, Illustration mit AI erstellt.

UPM-Kymmene stock closed at EUR 24.85 on Nasdaq Helsinki on October 2, 2026, gaining 0.73 percent from EUR 24.67. The immediate catalyst was a DNB Carnegie upgrade that lifted its price target from EUR 23 to EUR 30.

DNB Carnegie raises the target

According to Borskollen on October 2, 2026, DNB Carnegie raised its recommendation from Hold to Buy and increased the target from EUR 23 to EUR 30. The bank also raised its adjusted earnings-per-share forecast for 2026 through 2028 by an average of 7 percent.

That target is EUR 5.15 above the October 2 closing price, equivalent to 20.7 percent above the price. The comparison gives the rating change a concrete valuation dimension, although the same analysis placed adjusted EBIT slightly below consensus for the third quarter and for 2026 through 2028.

Q2 EBIT rises 71 percent

UPM's latest operating picture adds support to the debate. Packaging News Daily reported that continuing operations generated comparable EBIT of EUR 212 million in Q2 2026, up 71 percent from the prior year, on revenue of EUR 2.355 billion.

The comparable EBITDA margin reached 15.1 percent in Q2 2026, compared with 10.7 percent in Q2 2025. First-half operating cash flow stood at EUR 225 million, while net debt was EUR 3.313 billion, keeping cash generation and leverage central to the next results discussion.

Q3 results are dated

MarketScreener lists October 28, 2026, as UPM-Kymmene's Q3 2026 earnings date. The report will provide a fresh test of whether the Q2 EBIT improvement can continue while the company advances its portfolio changes.

Stock closes at EUR 24.85

UPM-Kymmene stock closed at EUR 24.85 on Nasdaq Helsinki on October 2, 2026, with a session range of EUR 24.72 to EUR 25.32. Its 52-week range was EUR 21.72 to EUR 27.94, and market capitalization stood at EUR 13.1 billion on the same date.