Genus PLC (LSE:GNS) has had its price target raised to 3300p from 3100p by Deutsche Bank, which reiterated a 'buy' rating after a pre-close update pointed to continued strong trading in its PIC division.
The company reported robust performance at PIC in both China and Latin America in the first half of its 2026 financial year.
In a note led by analyst Damian McNeela, Deutsche Bank said trading in China was being driven by a combination of strong royalty sales and higher breeding stock sales during the period.
In Latin America, Deutsche highlighted strong demand for porcine genetics through the group’s Agroceres joint venture, which it said continues to perform well. The bank added that momentum in the region underlines the strength of Genus’s global PIC platform.
Elsewhere, the ABS business was described as trading in line with expectations. Deutsche Bank said the division’s third Value Acceleration Program, VAP 3, remains on track to deliver around £6 million of cost savings in the 2026 financial year.
The bank said the sustained strength in PIC, combined with disciplined cost control in ABS, underpinned its upgrades to forecasts and valuation.
Deutsche added that the latest update reinforced its positive view on Genus’s earnings momentum and long-term growth prospects.
In afternoon trading, the shares were off around 1% at 2,810p, pausing for breath after a run that has seen the price advance 58% in the last year.