Highlights:

  • Panmure Liberum sets a target price of GBX 300 for APN shares.
  • Berenberg assigns a target of GBX 290, reinforcing broker optimism.
  • Broker upgrades follow revenue growth of 57% in H1 FY26 to GBP 74.5 million.

Applied Nutrition PLC (LSE:APN) has received buy ratings from two leading brokers following the release of its first-half trading update for the six months ended 31 January 2026. Shares also responded positive to the update as it traded at GBX 256, up 6% or 14.5 points on the day.

Broker Upgrades Highlight Market Confidence

Panmure Liberum issued a buy rating for Applied Nutrition, assigning a target price of GBX 300, while Berenberg followed with a buy rating and a target of GBX 290.

In its latest half yearly update, the Group reported revenue growth of 57% year-on-year to GBP 74.5 million in H1 FY26, surpassing management expectations.

The company’s expanding presence across UK high street health retailers, grocers, and discount chains as a driver of the improved performance. Demand for new product launches in the first half has also contributed to higher-than-expected customer stock levels during the January health and wellness peak period.

H1 FY26 Performance Supports Upgrades

Applied Nutrition reported that EBITDA for H1 FY26 exceeded management expectations. The Group now anticipates FY26 revenue of around GBP 140 million, above prior market consensus

Thomas Ryder, CEO, alongside COO Steven Granite and CFO Joe Pollard, will host a virtual presentation and Q&A for analysts on 23 March 2026, coinciding with the release of the Interim Results.

Applied Nutrition’s H1 FY26 trading update has prompted notable broker endorsements. Panmure Liberum and Berenberg’s buy ratings, with target prices well above the current share price. Investors will look to the upcoming interim results and analyst presentation for further guidance on FY26 performance.

FAQs

Q1: What were the brokers’ target prices for Applied Nutrition PLC?
A1: Panmure Liberum set a target of GBX 300, and Berenberg assigned a target of GBX 290.

Q2: Why did brokers issue buy ratings for Applied Nutrition?
A2: Brokers cited H1 FY26 revenue growth of 57%, strong demand for new products, and channel diversification across UK retailers.

Q3: When will Applied Nutrition release its Interim Results?
A3: The Group will announce the Interim Results for the six months ended 31 January 2026 on 23 March 2026, accompanied by a virtual analyst presentation.