JPM says Rockwool's Russia exit clears key overhang, ups stock to 'overweight'

Rockwool A/S

26/01/2026 09:21

** J.P. Morgan upgrades Danish stone wool products maker Rockwool ROCKb.CO to "overweight" from "neutral", seeing the seizure of its Russian factories as a "clearing event" that removed a major overhang for the stock

** The company's stone wool insulation unit is expected to keep gaining market share, and the removal of Russia's swings makes the business less volatile, JPM says

** "We expect management to issue a conservative guide given how FY25E played out and see a EBIT margin guidance range of between 12-13%," the broker says

** JPM adds the stock's valuation, around DKK 212 at Friday's close, is also attractive; it raises PT to DKK 250 from DKK 240

** Out of 18 analysts that cover Rockwool, nine rate it "strong buy" or "buy", ​seven "hold" and two​ "strong sell" or "sell" - LSEG data

(Reporting by Elviira Luoma)

((Elviira.luoma@thomsonreuters.com))