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Panmure Liberum sees around 20% upside in Smiths Group (LSE:SMIN) after the engineering group completed the £2bn sale of Smiths Detection and lined up a fresh £1.5bn buyback. The stockbroker repeated a Buy rating and 3,070p target price (current price: 2,560p), with the pitch being that the streamlined continuing business remains undervalued.
Smiths Group LON: SMIN lowered its full-year organic revenue growth outlook after Middle East-related disruption weighed on its John Crane business in the third quarter, Chief Financial Officer Julian Fagge said on the company's Q3 2026 trading update call.
We believe Brenntag trades at an attractive valuation and are encouraged by the new management team's recent efforts to improve operational efficiencies. Other portfolio companies include Smiths Group and Rotork, which should benefit from increased global energy infrastructure investment, given the need for reliable and safe energy systems. We believe that oil price volatility will continue to accelerate the structural demand for alternative energy solutions and electrification. To that end, we invested in SolarEdge Technologies and Landis+Gyr.
Smiths Group plc (SMGZY) Discusses Strategic Portfolio Repositioning and Performance Update in Industrial Engineering Transcript
Citi has reiterated its buy rating on Smiths Group (LSE:SMIN) following a sell-side breakfast with the engineering company's chief executive and chief financial officer, arguing the market's reaction to last week's earnings was overdone. The bank said the outlook for second-half earnings is considerably more robust than the post-results share price decline implied, and that concerns about the impact of Middle East conflict on the group's John Crane division, which makes components for oil and gas facilities, are unlikely to translate into net negative consequences.
Panmure Gordon kept its 'Buy' rating and 3,110p target price on Smiths Group (LSE:SMIN) after the engineering company paired a mixed first-half result with plans to return a further £1.5 billion to shareholders, a sum the broker said amounts to roughly 30% of its market value over the next 18 months. News of the shareholder payout couldn't cheer investors, however, as the share fell around 9% in Friday's trade.
Smiths Group plc (SMGZY) Q2 2026 Earnings Call Transcript
Shares in Smiths Group (LSE:SMIN) fell 5.9% to 2,222p on Friday after the company reported mixed half-year results and slightly trimmed full-year guidance. The company reported organic revenue growth of 4% for the six months ended 31 January 2026, with headline operating profit up 7.2% to £248 million and margins improving by 50 basis points to 17.2%.
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