Deutsche Bank has raised its price target on Bloomsbury Publishing PLC (LSE:BMY) to 760p from 700p, reiterating a buy rating on the FTSE-listed publisher after full-year results came in broadly in line with expectations.
Full-year results to February were consistent with the trading update issued in March, with adjusted fully diluted earnings per share coming in slightly ahead of forecasts due to a better-than-expected tax charge.
The bank makes no material changes to its forecasts for the 2027 and 2028 financial years.
Deutsche Bank argues that the current year is particularly well insulated against downside risk, with two new releases from fantasy author Sarah J Maas and fresh Harry Potter-related activity providing reliable demand anchors for the year ahead.
Bloomsbury flagged confidence in meeting market expectations and pointed to a stronger, wider publishing list in its outlook commentary.
The bank's bull case rests on Bloomsbury's track record of scaling its business by leveraging high-value author brands and franchises while diversifying across its consumer and academic and professional divisions.
Deutsche Bank argues this combination produces a relatively defensive medium-term growth profile at a time when the broader macroeconomic environment remains volatile and uncertain, even if individual title launches can introduce short-term variability.
Bloomsbury shares closed at 651p prior to the note's publication, leaving the stock around 17% below the revised price target.