'Underappreciated shift to growth', Barclays starts Aalberts at 'overweight'

Aalberts

20/05/2026 07:24

** Barclays initiates coverage of Dutch industrial manufacturer Aalberts AALB.AS with "overweight" rating and PT of 43 euros, citing an underappreciated shift towards structural growth

** The brokerage notes the market treats the company as a heating, ventilation and air conditioning components supplier but says its 25% revenue exposure to fast-growing segments is rising

** "We believe there is a lot more to Aalberts than just an HVAC components manufacturer," says the broker in a note, highlighting company's diversified exposure

** Barclays expects the firm to benefit from rapid expansion in its semiconductor and aerospace divisions alongside strong pricing power driven by ongoing innovation

** It notes that a potential cyclical recovery in the European construction market could bring Aalberts' medium-term targets into play

** Among the 12 analysts covering Aalberts, eight rate the stock "strong buy" or "buy," ​two rate "hold" and two​ rate the stock "strong sell" or "sell" - LSEG data

 (Reporting by Clement Martinot)

 ((Clement.Martinot@thomsonreuters.com;))