Berenberg keeps Neste as top pick, highlights 'extremely strong' margins

Neste Oyj

01/05/2026 07:05

** Berenberg keeps its bullish stance on Neste NESTE.HE and reiterates its "buy" rating after the Finnish biofuels producer delivered strong results driven by higher margins in renewable and oil products

** The brokerage raises its price target by 9% to EUR 36 as it increases its 2026 earnings per share forecast by 47% to reflect the "extremely strong" renewable margin environment

** "Neste remains one of our top picks," it says, citing a favourable policy backdrop in the United States and Europe that underpins demand growth

** A combination of efficiency improvements and the upcoming Rotterdam facility expansion should enable material volume growth starting from 2027, the brokerage adds

** Berenberg expects Neste's net debt to fall sharply following solid free cash flow generation which should enable higher shareholder returns or additional growth projects beyond 2027

** Out of 23 analysts that cover Neste, 12 rate the stock "strong buy" or "buy," ​seven rate it "hold" and four​ rate the stock "strong sell" or "sell" - LSEG data

 (Reporting by Agnieszka Gosciak-Rabalska)

 ((Agnieszka.Gosciak@thomsonreuters.com; +48 58 769 66 00;))