Inderes raises its recommendation for household products company Orthex to Accumulate from Reduce and its price target to 5 euros from 4.60 euros.
Third-quarter record revenue and strong profitability exceeded expectations despite rising raw material prices. Inderes therefore raises its earnings forecasts for 2026 and 2027.
The valuation is considered attractive, with adjusted P/E ratios of 12 and 11 for 2026 and 2027, respectively. At the same time, the stock trades at a discount of 15–25 percent to its peers. Sustained growth in Europe is seen as crucial for further upside.
