Berenberg Sets Buy Ratings on Weir (LSE:WEIR), Halma (LSE:HLMA) and Admiral (LSE:ADM)

Highlights

• Berenberg issued buy ratings on Weir, Halma and Admiral, setting price targets of GBX 3,650, GBX 4,200 and GBX 4,000 respectively.
• Weir signed a shareholders’ agreement to form a Saudi Arabia joint venture focused on mining technology, with operations expected by Q1 2026.
• Halma acquired Safetec for approximately GBP 63 million, while Admiral completed the sale of its U.S. motor insurance business effective December 2025.

Berenberg has assigned a buy rating on The Weir Group PLC (LSE:WEIR), Halma plc (LSE:HLMA) and Admiral Group plc (ASX:ADM). The brokerage set a price target of GBX 3,650 for Weir, GBX 4,200 for Halma, and GBX 4,000 for Admiral. These targets might follow recent business announcements and ongoing portfolio changes across the three companies.

As of 22 January 2026, Weir shares were trading at GBX 3,170, up 1.21% on the day, while Halma was at GBX 3,714, gaining 0.11%. Admiral Group shares traded at GBX 2,968.30, up 0.69% during morning trade.

Let’s have a look at the recent updates by these companies.

Weir Advances Saudi Arabia Mining Joint Venture

On 14 January 2026, The Weir Group announced the signing of a shareholders’ agreement with Olayan Saudi Holding Company to establish a joint venture in Saudi Arabia. The announcement was made at the Future Minerals Forum in Riyadh and marks a formal step in providing mining technology solutions to the Kingdom’s expanding mining sector.

The joint venture builds on a long-standing relationship between the two companies and combines Weir’s expertise in mining technologies such as comminution, separation and tailings management with Olayan’s local market presence. Operations are expected to commence by the end of Q1 2026, subject to customary regulatory approvals.

Halma Expands Safety Portfolio with Italian Acquisition

Recently, Halma announced the acquisition of Safetec Srl, an Italy-based fire and gas safety solutions provider. The cash consideration for the transaction was €72.5 million (approximately GBP 63 million), funded through existing facilities and completed on a cash- and debt-free basis.

Safetec, founded in 2003 and headquartered near Milan, serves industrial sectors including power generation, oil and gas, and pharmaceuticals. The business is forecast to generate €30 million (approximately GBP 26 million) in revenue for the 12 months ending 31 December 2025 and will operate as a standalone entity within Halma’s Safety Sector.

Admiral Completes Sale of U.S. Motor Insurance Business

Admiral Group confirmed the completion of the sale of its U.S. motor insurance operations, including Elephant Insurance Company and Elephant Insurance Services, to J.C. Flowers & Co. The transaction took effect from 31 December 2025.

Elephant Insurance, headquartered in Richmond, Virginia, provides motor insurance services to U.S. customers through a digital-focused platform.