UBS cuts Neste to 'neutral' from 'buy', says improved outlook priced in

Neste Oyj

28/01/2026 10:55

** UBS cuts rating for Finnish refiner and biofuels producer Neste NESTE.HE to "neutral" from "buy", and raises PT to 23 euros ($27.55) from 20.50 euros

** Brokerage says improved outlook is largely priced in, following a recent 30% surge in its share price

** Adds the stock's risk/reward profile is now "more balanced", with shares trading at their three-year average valuation multiple after the recent rally

** On raising PT, UBS cites a de-risked outlook for 2026-27 after Germany's approval for a draft regulation on biofuels

** The brokerage forecasts weaker-than-consensus Q4 results, as Neste's renewable products margin estimate impacted by heavy maintenance and lower diesel prices

** Of 23 analysts covering the stock, 12 rate it "buy" or higher, six "hold" and five "strong sell" or "sell" - LSEG-compiled data

($1 = 0.8348 euros)

(Reporting by Vera Dvorakova)

((vera.dvorakova@thomsonreuters.com))