Noble Securities cuts target for Budimex stock from PLN 619 to PLN 562

Published on 10/06/2026 at 15:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Budimex stock costs EUR 156.78 on October 6, 2026 after EUR 153.23, plus 2.32 percent. Half-year revenue rose 8.00 percent to PLN 4.23 billion.

Budimex, PLBUDMX00013, Illustration mit AI erstellt.

Budimex (PLBUDMX00013) was trading at EUR 156.78 at Lang & Schwarz on October 6, 2026 at 3:08 p.m. CEST, up 2.32 percent versus the prior close of EUR 153.23. The latest analyst action came from Noble Securities, which cut its 12-month target from PLN 619 to PLN 562 in a report dated September 17, 2026, while keeping a sell rating, as Bankier.pl reported.

Target cut meets rising revenue

The reduction from PLN 619 to PLN 562 equals 9.21 percent and places the new target below the PLN 685.20 Budimex quote on the Warsaw Stock Exchange at 2:55 p.m. CEST on October 6, 2026. Noble Securities cited a cautious management view on revenue, higher assumed corporate taxes and a risk that construction inflation could pressure margins, according to Bankier.pl.

The report still projected 2026 revenue of PLN 10.26 billion and EBITDA of PLN 1.09 billion, with revenue forecast to reach PLN 11.32 billion in 2027, Bankier.pl said. That combination leaves the stock debate centered on whether higher sales can offset margin and valuation pressure.

Second-quarter profit trails consensus

Budimex recorded PLN 2.73 billion of revenue in the second quarter of 2026, an 18.60 percent year-over-year increase. Operating profit reached PLN 204.90 million, while net income attributable to the parent company was PLN 163.40 million, 3.30 percent below the PLN 169.00 million market consensus, according to PPCG Stock.

For the first half of 2026, group revenue reached PLN 4.23 billion, compared with PLN 3.947 billion a year earlier, while operating profit was PLN 309.00 million and net income attributable to the parent company was PLN 249.70 million, Bankier.pl reported. The order book stood at PLN 17.90 billion at the end of June, giving the company a substantial contracted base for future work.

Order book supports October results date

The order book was PLN 17.86 billion in the detailed second-quarter summary, up from PLN 17.05 billion a year earlier, an increase of 4.75 percent, according to PPCG Stock. The consolidated third-quarter 2026 report is scheduled for October 27, 2026, providing the next defined test of revenue conversion and profitability.

Budimex stock trades above prior close

At Lang & Schwarz, Budimex stock was trading at EUR 156.78 on October 6, 2026 at 3:08 p.m. CEST, up 2.32 percent versus the EUR 153.23 prior close of October 5, 2026. On its primary GPW listing, the stock was at PLN 685.20, within a 52-week range of PLN 508.40 to PLN 814.00.