Andrew Douglas, an analyst from Jefferies, reiterated the Buy rating on Spirax Group. The associated price target remains the same with p8,715.00.
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Andrew Douglas has given his Buy rating due to a combination of factors, including Spirax’s stronger‑than‑market trading performance and solid profitability trends. The company delivered mid‑single‑digit organic sales growth in the first four months of FY26, clearly ahead of global industrial production, while also expanding EBITA margins, which signals effective execution and pricing discipline.
All three divisions are contributing to this outperformance, with ETS showing particularly strong double‑digit growth and Watson‑Marlow maintaining healthy mid‑single‑digit momentum. Management has reaffirmed full‑year FY26 guidance despite a tough backdrop for U.K. industrials, balance sheet leverage remains comfortable at 1.5x net debt to EBITDA, and Jefferies’ unchanged $8715 price target reflects ongoing confidence in Spirax’s earnings recovery and medium‑term EPS growth potential.
According to TipRanks, Douglas is a 4-star analyst with an average return of 4.6% and a 55.92% success rate. Douglas covers the Industrials sector, focusing on stocks such as IMI plc, Morgan Advanced Materials, and Rotork plc.
In another report released on May 11, UBS also reiterated a Buy rating on the stock with a p10,500.00 price target.