Wienerberger Analysts Diverge on Recovery Timing as Brickmaker Launches Clay Facade System
Published on 10/28/2026 at 07:41 | Editorial boerse-global.de
Wienerberger has rolled out a new ceramic facade brick in Austria even as analysts remain divided over how quickly the building materials group can regain its footing. The Tondach Tonova system, brought to market by Wienerberger Österreich on 15 October, is approved for multi-storey structures and designed for rear-ventilated curtain facades, according to media reports. It is produced at the Gleinstätten plant using domestically sourced clay.
The product launch lands against a far less encouraging demand picture. Wienerberger cut its EBITDA guidance for the 2026 financial year to EUR 640–650m, citing a weaker-than-expected seasonal recovery in construction activity during September, alongside higher energy, raw material and logistics costs. The company said the demand shortfall was most acute in the UK, the US and Canada.
Jefferies Opens Coverage With a Hold
Jefferies initiated coverage of the stock with a "Hold" rating and a EUR 16 price target, according to media reports — though accounts differ on the date, with one placing the move on 13 October and another on 14 October. The brokerage tied its cautious stance to a lack of conviction that US residential construction will recover soon, and suggested that potential stimulus from European government programmes may not add meaningful volumes until 2027. Nearer term, Jefferies pointed to the company's strategic review as the key focus.
Should investors sell immediately? Or is it worth buying Wienerberger?
That review, announced alongside the profit warning, comes with accelerated cost-cutting measures. Wienerberger has said it will publish an update on both the strategic review and the efficiency programme.
Berenberg Sticks With a Buy
Berenberg struck a different tone on 9 October, trimming its price target to EUR 19 from EUR 25 while reaffirming its buy recommendation, media reports said — keeping a positive rating attached to the lower target. UBS, by contrast, maintained its "Sell" rating in the wake of the profit warning roughly a week earlier, recommending that investors offload the shares. UBS also disclosed a reduced voting rights position in Wienerberger.
For the third quarter of 2026, Wienerberger at the time expected revenue of roughly EUR 1.2–1.3bn and operating EBITDA of about EUR 170–180m. Those were company projections rather than published quarterly figures.
The shares gained 1.9% in the latest session, closing at EUR 16.48 — above Jefferies' EUR 16 target.
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