JPMorgan cuts target to NOK 91 for Norsk Hydro stock
Published on 10/15/2026 at 13:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst target and operating figures
- JPMorgan cut its target from NOK 97 to NOK 91 on October 14, 2026.
- Norsk Hydro reported NOK 56.49 billion in second-quarter revenue, up 6.00 percent year over year.
- Norsk Hydro stock trades at EUR 7.02 at 1:13 p.m. CEST at Lang & Schwarz on October 15, 2026.
Norsk Hydro (ISIN NO0005052605) was quoted at EUR 7.02 at Lang & Schwarz on October 15, 2026 at 1:13 p.m. CEST. Markets Insider reported on October 14, 2026 that JPMorgan analyst Patrick Jones cut Norsk Hydro's price target from NOK 97 to NOK 91 while keeping a Neutral rating.
Alunorte cost risk remains material
The latest operating risk centers on Hydro's Alunorte alumina refinery in Brazil. In a release dated October 5, 2026, GlobeNewswire reported that Hydro estimated fourth-quarter gas costs at USD 90 million to USD 110 million. The company also estimated a third-quarter alumina production loss of 100,000 to 120,000 tons and a USD 75 million to USD 100 million effect for Bauxite and Alumina.
The cost range gives the analyst target cut a concrete counter-factor. Hydro said Alunorte was buying gas at spot prices after supply disruptions, while it worked with supplier CELBA and authorities on a longer-term arrangement.
What do the results mean for margins?
Hydro's second-quarter revenue rose 6.00 percent year over year to NOK 56.49 billion, while net income reached NOK 5.69 billion, according to Investing.com. The same report cited adjusted EBITDA of NOK 8.90 billion and adjusted earnings per share of NOK 2.21 for the second quarter of 2026. Those figures provide the operating baseline before the Alunorte cost estimate is reflected in the third-quarter report.
Three dated developments
On September 28, 2026, Hydro agreed to receive EUR 28 million following a Swedish wind farm sale, as reported in the company's investor materials. On October 5, 2026, Hydro disclosed the USD 90 million to USD 110 million Alunorte gas-cost estimate through GlobeNewswire. On October 14, 2026, JPMorgan lowered its target from NOK 97 to NOK 91 through the report carried by Markets Insider.
Next date is October 23
Hydro's next substantiated event is its third-quarter results release on October 23, 2026 at 7:00 a.m. CEST, according to the company's release carried by GlobeNewswire. The report should show how much of the estimated Alunorte effect reached reported results and whether the second-quarter revenue increase carried into the next period.
Stock quote and company profile
Norsk Hydro operates across bauxite, alumina, primary aluminum, recycling, extrusion and energy. Its second-quarter revenue of NOK 56.49 billion and net income of NOK 5.69 billion set the latest reported scale, while the Alunorte estimate defines the near-term risk for earnings.
The stock was trading at EUR 7.02 at Lang & Schwarz on October 15, 2026 at 1:13 p.m. CEST.
The further course of trading is shown by the continuously updated real-time quote of Norsk Hydro stock.
Norsk Hydro stock facts
- Company: Norsk Hydro ASA
- ISIN: NO0005052605
- Ticker: NHY
- Primary exchange: Oslo Stock Exchange
- Price Lang & Schwarz (as of October 15, 2026, 1:13 p.m. CEST): EUR 7.02
- Sector / Industry: Basic Materials / Metals and Mining
- Market capitalization: NOK 146.8 billion (as of October 15, 2026)
- Next earnings date: October 23, 2026
Market context: Latest market reports.
