Deutsche Bank keeps target for Norsk Hydro stock at NOK 100

Published on 10/08/2026 at 13:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Alunorte faces USD 90-110 million in fourth-quarter costs. Norsk Hydro stock costs EUR 7.29 on October 8, 2026 versus EUR 7.28, plus 0.14 percent.

Norsk Hydro, NO0005052605, Illustration mit AI erstellt.

Norsk Hydro stock (ISIN NO0005052605) was trading at EUR 7.29 at Lang & Schwarz on October 8, 2026 at 1:16 p.m. CEST. According to Investing.com on October 7, 2026, Deutsche Bank maintained a Hold rating and cut its target from NOK 102.00 to NOK 100.00.

Three dated developments

On July 22, 2026, Norsk Hydro reported second-quarter adjusted EBITDA of NOK 8.90 billion and free cash flow of NOK 4.00 billion, according to Yahoo Finance. On September 28, 2026, Hydro said it expected EUR 28.00 million in compensation after the sale of a Swedish wind farm, as reported by GlobeNewswire. On October 5, 2026, Hydro estimated a USD 75-100 million third-quarter impact and a USD 90-110 million fourth-quarter gas arbitrage impact at Alunorte.

What is the gas risk worth?

The Alunorte estimate is the immediate operating counterweight to Hydro's second-quarter improvement. The company is buying gas at spot-based prices after contracted deliveries were disrupted, while the fourth-quarter estimate is higher than the USD 75-100 million range attached to the third quarter.

Hydro said the final effect depends on gas prices, contractual developments and a long-term supply solution. It also said Alunorte does not expect another interruption caused by the current situation, which shifts the key variable from production continuity to the cost of replacement gas.

Upcoming dates and market view

Hydro's next earnings release is scheduled for October 23, 2026, followed by an Analyst/Investor Day on November 25, 2026, according to Marketscreener. Those dates give investors two planned checkpoints for the Alunorte cost impact and Hydro's broader operating outlook.

Stock stays near its daily base

Norsk Hydro stock was trading at EUR 7.29 at Lang & Schwarz on October 8, 2026 at 1:16 p.m. CEST, plus 0.14 percent versus the prior close of EUR 7.28 on October 7, 2026. The primary listing is on Oslo Bors in NOK, where the finance quote showed a market capitalization of NOK 153.5 billion and a 52-week range of NOK 66.54 to NOK 120.40 as of October 8, 2026. The further course of trading is shown by the continuously updated real-time quote of Norsk Hydro stock.