UBS ups Bilfinger on attractive valuation

Bilfinger SE

27/08/2026 12:36

** UBS upgrades Bilfinger GBFG.DE to "buy" from "neutral", pointing to an attractive valuation after recent share price pullback and an improving outlook for orders and utilisation
** UBS views the German industrial services provider's 2026 revenue guidance as achievable, citing revenue coverage of around 90% and management's confident tone
** UBS expects delayed maintenance and project activity to boost utilisation and support margin improvement
** In addition, UBS sees M&A scope and German fiscal stimulus measures as a potential source of upside
** Bilfinger shares have lost around 23% YTD

(Conrad Kuepper)
((Conrad.kuepper@thomsonreuters.com))