Jyske Bank upgrades GN Store Nord stock to Buy

Published on 10/02/2026 at 17:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted operating profit reached DKK 110 million in the second quarter of 2026. GN Store Nord stock costs EUR 14.07 on October 2, 2026 versus EUR 14.47.

3D-Render eines modernen verglasten Firmengebäudes mit Garten und Terrasse — Architektur-Render eines Glasbüros, passend zum Hauptsitz von GN Store Nord A/S (DK0010272632), Nasdaq-notiert, Illustration mit AI erstellt.

GN Store Nord stock (ISIN DK0010272632) was trading at EUR 14.07 at Lang & Schwarz on October 2, 2026 at 5:11 p.m. CEST, down 2.76 percent versus the prior close of EUR 14.47. Nasdaq reports that Jyske Bank upgraded GN Store Nord from Hold to Buy on September 23, 2026.

Upgrade meets a weaker price

The rating change arrived as the euro quote fell EUR 0.40 from its Lang & Schwarz prior close. That decline gives the upgrade a clear market test, because the latest trading price is below the DKK 105.40 last quote on Nasdaq Copenhagen recorded at 4:59 p.m. CEST on October 2, 2026.

GN Store Nord had a market capitalization of DKK 15.3 billion on October 2, 2026. Its primary-exchange 52-week range was DKK 85.12 to DKK 123.75, placing the latest DKK 105.40 quote inside the established annual band.

Margins improve while growth lags

In the second quarter of 2026, continuing operations delivered organic revenue growth of minus 4.00 percent, while adjusted EBITA reached DKK 110 million and an adjusted EBITA margin of 5.00 percent, according to the Yahoo Finance transcript dated August 20, 2026.

The same transcript shows gross profit of DKK 891 million and a gross margin of 57.20 percent, versus 56.10 percent in the second quarter of 2025. The comparison matters: profitability improved year over year even as continuing-operations organic revenue remained negative.

Guidance depends on the second half

GN Store Nord raised its full-year 2026 adjusted EBITA margin guidance to 9.00 percent-10.00 percent while narrowing organic revenue expectations toward the lower half of the previous range, the Yahoo Finance transcript states. Management also included DKK 100 million-DKK 150 million of tariff refunds in the margin outlook, making the quality of that upgrade important for investors.

The company expects its Evolve3 portfolio and gaming launches to support a return to positive group organic revenue growth in the third quarter of 2026. That outlook must offset the second-quarter contraction and the reported DKK 616 million negative free cash flow excluding mergers and acquisitions.

Stock remains inside its annual range

GN Store Nord combines hearing and audio businesses, with the Nasdaq Copenhagen listing identified as GN.CO under ISIN DK0010272632 by Global Banking and Finance. The combination of a Buy upgrade, a 5.00 percent second-quarter adjusted EBITA margin and a 9.00 percent-10.00 percent full-year target leaves execution in the second half as the central stock variable.

GN Store Nord was trading at EUR 14.07 at Lang & Schwarz on October 2, 2026 at 5:11 p.m. CEST, down 2.76 percent versus the Lang & Schwarz prior close of EUR 14.47 on October 1, 2026. The further course of trading is shown by the continuously updated real-time quote of GN Store Nord stock.