Voestalpine Wins Two Buy Calls Despite Softer Forecast and Kindberg Job Cuts
Published on 11/15/2026 at 02:40 | Editorial boerse-global.de
Deutsche Bank Research trimmed its EBITDA forecasts for Voestalpine by 3–7% on Thursday, covering fiscal years 2027 through 2029, while leaving its buy rating and its 63.00 EUR price target untouched. The revision landed a day after the Austrian steelmaker narrowed its own full-year outlook, and it followed a familiar script: analysts are shading down later-year numbers without walking away from the stock.
UBS took the same route. The Swiss bank reiterated its buy call on Thursday after the interim figures and kept its 64.00 EUR target, though its analysts read the lowered company guidance as a negative for the shares.
Guidance Ceiling Comes Down
Voestalpine now expects EBITDA of 1.60 to 1.70 billion EUR for fiscal 2026/27, down from a previous range of 1.60 to 1.85 billion EUR. The floor held; the top end fell by 150 million EUR. Management pointed to the protracted war in the Middle East, higher energy and logistics costs, postponed energy projects and additional temporary US tariffs as the drags behind the cut.
Deutsche Bank's reasoning echoed that list, citing heavier-than-expected energy and logistics burdens and the US duties among the grounds for its lower estimates.
Should investors sell immediately? Or is it worth buying Voestalpine?
A Strong First Half Behind the Cut
The downgrade to the outlook sits alongside a sharply improved first half. For the six months through the fiscal first half of 2026/27, Voestalpine posted EBITDA of 846 million EUR, up 17.1%, on revenue of 7.7 billion EUR. EBIT came in at 470 million EUR, and net profit after tax reached 290 million EUR — a 46% jump. The company said the result included positive and negative one-off effects totaling roughly 100 million EUR.
The shares shed 2.0% on Friday. The guidance cut was a company-specific item in the mix around the decline, but no single trigger for the day's move has been established.
Kindberg Talks Target November
Away from the numbers, Voestalpine Tubulars is negotiating a social plan with the works council for about 150 employees in Kindberg, whose positions are to be phased out by March 2027. According to an APA report on Thursday, the package is meant to be worked out by the end of November. Talks with the works council had already begun on Tuesday.
Voestalpine at a turning point? This analysis reveals what investors need to know now.
The company is scouting vacancies both inside the group and with employers elsewhere in the region. The job reductions, announced on Wednesday, stem from additional US tariffs on the seamless pipes made in Kindberg — the same temporary duties that feature in the lowered annual forecast.
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Voestalpine Stock: New Analysis - 15 November
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