Deutsche Bank Cuts Huhtamaki Target to €33

Deutsche Bank downgraded Huhtamaki Oyj to “hold” from “buy”, cutting price target to €33 from €38.
Analyst Kevin Fogarty cited raw material and energy cost inflation plus weak consumer demand as pressures on pricing power and margins.
Deutsche Bank trimmed FY26 adjusted EPS forecast by ~4% and FY27 earnings expectations by 3% to reflect delayed input‑cost recovery risks.
The downgrade reflects near‑term profitability risks amid inflationary cost pressure historically linked to margin volatility at Huhtamaki.