JPM ups Geberit on market share gains

Geberit AG

05/11/2025 10:13

** J.P.Morgan upgrades Swiss sanitary parts maker Geberit GEBN.S to "neutral" from "underweight", citing robust operational execution and market share gains

** The brokerage notes the company has outperformed expectations, evidenced by its recently upgraded sales growth guidance

** JPM now sees "limited catalysts to spur a de-rating in the shares" as Geberit continues to perform well, backed by a strong management team

** The broker raises its PT by 20% to CHF 600, and lifts its FY 2025 EBITA estimate by 0.5%

** JPM's previous "underweight" thesis was centred on the company's premium valuation, which it now sees as more justified by its strong performance

** Geberit shares are up 20% year-to-date

 (Reporting by Simon Ferdinand Eibach)

 ((Simonferdinand.eibach@thomsonreuters.com))