Berenberg cuts Signify to 'hold', 'pausing until June'

Signify NV

06/02/2026 07:16

** Berenberg downgrades Dutch lighting maker Signify LIGHT.AS to "hold" from "buy", citing weak results, an uncertain outlook and a paused share buyback

** The broker notes Q4 and FY 2025 results missed recently-reduced guidance, with full-year like-for-like sales down 3.4% and an adjusted EBITA margin of 8.9%

** Signify suspended its share buyback and anticipates "challenging conditions to persist through 2026", with focus shifting to a June Capital Markets Day for a new strategy

** The brokerage's prior positive thesis on a return to growth and strong capital returns is now challenged by the suspended buyback and lack of near-term growth visibility

** "We feel that there is no rush to own the shares ahead of this", the broker says, viewing the June CMD as a potential catalyst but advising patience until then

** Out of 14 analysts that cover Signify, four rate the stock "strong buy" or "buy,"​ six rate "hold" and four​ rate the stock "strong sell" or "sell" - LSEG data

 (Reporting by Clement Martinot)

 ((Clement.Martinot@thomsonreuters.com;))