Henkel closes Stahl deal: Bernstein keeps EUR 74.96 target for Henkel stock

Published on 10/22/2026 at 11:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Stahl adds EUR 725 million in fiscal 2025 sales. Henkel stock costs EUR 77.46 on October 22, 2026, 0.74 percent below Xetra close.

Acquisition and analyst context

Stahl became part of Henkel on October 1, 2026, with fiscal 2025 sales of EUR 725 million.
Bernstein kept its Neutral rating and EUR 74.96 target on October 19, 2026.
Henkel stock trades at EUR 77.46 at 11:44 a.m. CEST at Lang & Schwarz on October 22, 2026, 0.74 percent below the Xetra close of October 21, 2026.

Flatlay mit Zertifikat, ISIN-Karte und unmarkierten Reinigungs- und Kosmetikprodukten — Flatlay mit Aktienzertifikat visualisiert die Kapitalanlage in Henkel AG & Co. KGaA Vz, ISIN DE0006048432, Illustration mit AI erstellt.

Henkel (ISIN DE0006048432) completed its Stahl acquisition on October 1, 2026, adding a specialty-coatings business that generated EUR 725 million in adjusted sales during fiscal year 2025, according to Henkel. Bernstein kept a Neutral rating and a EUR 74.96 target on October 19, 2026, as reported by MarketScreener.

Stahl expands the adhesives platform

The acquisition broadens Henkel's Adhesive Technologies portfolio into leather finishing, performance coatings and packaging coatings. Stahl employs 1,800 people and serves mobility, fashion, luxury and packaging customers, according to the October 1 release from Henkel. The company said Stahl's addition, together with two other Adhesive Technologies transactions, added around EUR 1 billion in combined sales.

Three milestones shape the story

Henkel completed the OLAPLEX acquisition on July 7, 2026, reported first-half results on August 6, 2026, and completed the Stahl transaction on October 1, 2026, according to the company's investor-relations information. The first-half update reported organic sales growth of 3.2 percent to EUR 10.3 billion, adjusted EBIT of EUR 1.62 billion and an adjusted EBIT margin of 15.7 percent.

What does Stahl mean for margins?

The initial financial benchmark is Henkel's first-half adjusted EBIT margin of 15.7 percent, which rose 0.10 percentage points year over year. Stahl's fiscal 2025 sales of EUR 725 million provide scale, while the margin outcome will depend on integration and the profitability mix of the expanded coatings portfolio.

Dates set for the next update

Henkel's next two scheduled events are third-quarter 2026 reporting on November 10, 2026, and a London roadshow on November 11, 2026, both listed in the company's financial calendar.

Stock trades below the Xetra close

Henkel stock was trading at EUR 77.46 at Lang & Schwarz on October 22, 2026 at 11:44 a.m. CEST, down EUR 0.58 or 0.74 percent versus the Xetra close of October 21, 2026 at EUR 78.04. The quote sits below Bernstein's EUR 74.96 target only in the sense that the target is EUR 2.50 below the current price, leaving the analyst reference as a valuation counterpoint rather than a price signal. The further course of trading is shown by the continuously updated real-time quote of Henkel stock.