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JPMorgan places Inchcape on 'positive catalyst watch', lifts price target

Wed 18 Feb 2026 09:16

(Sharecast News) - Inchcape shot higher on Wednesday after JPMorgan placed the shares on 'positive catalyst watch' ahead of full-year results on 3 March and hiked the price target to 880p from 800p. "Based on our momentum tracker, we have raised our 2025/26 underlying EPS forecasts by 6%/7%, due to stronger volume growth in the Americas and Hong Kong," the bank said. "Our estimates are now 4%/5% above FY25/FY26 consensus (company-compiled) EPS."

JPM, which rates the shares at 'neutral', said positive momentum in the Americas should continue to support profitability, with volumes providing a favourable mix.

"Supportive end-markets, a slower BEV transition, measured Chinese expansion in Europe, favourable FX and lower interest rates should drive 6% profit before tax growth and 15% EPS growth in 2026," it said.

"With the stock trading at 9x/8x 2026/27 P/E (JPMe) versus a trading range of 8-11x, we consider the near-term set-up attractive."

At 0915 GMT, the shares were up 5.6% at 884p.

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