J.P. Morgan upgraded H.B. Fuller to Overweight from Neutral and raised its price target to $67 from $58, citing stronger-than-expected adjusted EBITDA growth. Analyst Jeffrey Zekauskas noted that price increases of 3% and positive currency effects of 3% lifted adjusted EBITDA by 9% in the second quarter and by 4% in the first half of 2026, even as volumes remained flat to lower. He raised his fiscal 2026 EBITDA estimate to $660 million from $646 million, up from $621 million in fiscal 2025, and expects volumes to be less weak in the second half than the company's guidance of a 4% to 6% decline. The analyst also pointed to cost-cutting from a smaller manufacturing footprint and likely lower raw material cost pressure in 2027 due to lower oil prices and the opening of the Strait of Hormuz.
H B Fuller CompanyJ.P. Morgan upgraded H.B. Fuller to Overweight and raised price target, citing stronger EBITDA growth.
JPMorgan Chase & Co