Bell Potter raised target for Codan stock from AUD 54.00 to AUD 60.00

Published on 10/13/2026 at 01:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bell Potter raised its target from AUD 54.00 to AUD 60.00. Codan stock last stood at EUR 41.90 on October 12, 2026, valued at AUD 12.0 billion.

Key points in brief

Bell Potter raised its Codan target from AUD 54.00 to AUD 60.00, according to FNArena.
Codan expects H1 FY27 Communications revenue of AUD 400 million to AUD 410 million.
H1 FY27 group NPAT is forecast at least AUD 160 million versus AUD 71.2 million previously.
The last Lang & Schwarz price was EUR 41.90 on October 12, 2026.
Codan is listed on the ASX and operates in communications and metal detection.

Codan, AU000000CDA3, Illustration mit AI erstellt.

Bell Potter raised its target for Codan stock from AUD 54.00 to AUD 60.00, according to FNArena on October 5, 2026. The upgrade followed Codan's stronger H1 FY27 outlook for its Communications division and group profit.

Three events reset expectations

On August 20, 2026, Codan said Communications revenue for the first half of fiscal 2027 should grow 20 percent from the prior corresponding period, according to Codan. On September 29, 2026, the company raised that outlook to H1 FY27 Communications revenue of AUD 400 million to AUD 410 million, compared with AUD 221.8 million in the prior corresponding period.

On October 5, 2026, Bell Potter upgraded Codan from Hold to Buy and lifted its target from AUD 54.00 to AUD 60.00, FNArena reported. The sequence shows how quickly expectations changed after the September trading update.

What does the upgrade change?

Codan expects H1 FY27 group net profit after tax of at least AUD 160 million, versus AUD 71.2 million in the prior corresponding period, according to Codan. The guidance implies a minimum increase of 124.72 percent, while the Communications EBIT margin is expected at 40 percent versus 26 percent previously.

Codan also targets Communications revenue growth of 30 percent to 40 percent for full-year FY27. Management linked the stronger outlook to demand from conflict regions, which is expected to represent 50 percent of Communications revenue in H1 FY27 versus 20 percent in the prior corresponding period.

Codan stock after the rally

The primary ASX quote stood at AUD 65.94 on October 12, 2026, while the 52-week range was AUD 25.18 to AUD 70.14. Market capitalization was AUD 12.0 billion on the same date, leaving the stock 5.99 percent below its 52-week high.

The last Lang & Schwarz price was EUR 41.90 on October 12, 2026 at 11:00 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Codan stock.