Beijer Ref stock slips 1.01 percent as Citi sets SEK 150 target

Beijer Ref stock was quoted at SEK 147.70 on Nasdaq Stockholm on September 23, 2026, down 1.01 percent on the session. The immediate reference point for investors is a new Citi target of SEK 150, while the latest quarterly figures show sales growth supported mainly by acquisitions.

Citi lifts target to SEK 150

According to MarketScreener, Citi raised its Beijer Ref target from SEK 145 to SEK 150 and maintained a Neutral rating on September 21, 2026. The target stands 1.56 percent above the September 23 share price, leaving a narrow gap between the market quotation and the analyst case.

Citi also raised its adjusted earnings per share forecasts for 2026, 2027 and 2028 by 2 percent, 6 percent and 5 percent, respectively, according to the same September 21 update. Ahead of the third quarter, Citi was 3 percent above consensus on EBITA and expected 5 percent organic growth against consensus of 4 percent.

Q2 growth is acquisition led

In the Q2 FY2026 earnings call, Beijer Ref reported sales growth of 6 percent, with organic growth contributing 1 percent and acquisitions contributing the remaining 5 percentage points, according to Yahoo Finance. EBITDA increased 5 percent, while net profit reached SEK 834 million and earnings per share rose 5 percent to SEK 1.63.

The mix matters because the 6 percent top-line increase contains only 1 percent organic growth. For investors, the next quarterly release will therefore show whether acquisition activity continues to compensate for moderate underlying expansion.

Stock stays below yearly high

Beijer Ref's market capitalization was SEK 74,884,341,553 on September 23, 2026. The 52-week range was SEK 121.95 to SEK 160.40, placing the current quotation 7.92 percent below the yearly high.

Beijer Ref is scheduled to report its third-quarter 2026 results on October 21, 2026, according to MarketScreener. That date will put organic growth, acquisition contributions and the distance to Citi's SEK 150 target on the same timetable.

SEK 147.70 on Nasdaq Stockholm

Beijer Ref stock was quoted at SEK 147.70 on Nasdaq Stockholm on September 23, 2026, with a daily change of minus 1.01 percent. The company operates in industrial distribution, supplying refrigeration equipment, air conditioning units, heat pumps and related components.