Johnson Matthey PLC (LSE:JMAT) has received a price target upgrade from Deutsche Bank following its half-year 2026 pre-close trading update.
The broker raised its target to 2,300p from 2,100p and kept a ‘Buy’ rating on the stock.
The revised model reflects improved trading conditions for platinum group metals (PGM) and cost efficiencies.
“For FY 26, we have raised our underlying EBIT forecast (ex Catalyst Technologies) by 5% to £330m, broadly in line with the implied revised guide," DB analyst Tristan Lamotte said in a note.
It also revised its EBIT forecasts for FY27 and FY28 upwards by around 2% on average.