Analysts Turn More Positive on Haleon Shares Ahead of February Results

Haleon (LON: HLN) is drawing increased support from equity analysts ahead of its full-year results on Feb. 25, with several major banks lifting ratings or price targets in January. 

As of Friday's close, the stock had risen 1.1% since the start of the year and is up about 8% over the past three months, closing at 328.9p on Jan. 30. Shares have recovered steadily from around 329p in October. So far on Monday, Haleon shares are up around 1.5%.

Barclays was the latest to turn more constructive, upgrading Haleon to overweight on Jan. 23 and raising its price target to 420p.

The bank cited a refreshed framework for assessing European consumer staples. Two days earlier, HSBC shifted its stance to buy with a 430p target, signaling greater confidence in the company’s medium-term trajectory.

Jefferies also increased its target to 450p on Jan. 20 while reiterating a buy rating, pointing to adjustments in its forecasts ahead of the company’s upcoming results.

Although Deutsche Bank adopted a more cautious approach on Jan. 12, cutting Haleon to sell with a 340p target as part of a sectorwide reset, the broader trend has been more upbeat.

Earlier in the month, Goldman Sachs added Haleon to its European Conviction List, expecting a return to “best-in-class” sales growth as inventories normalize and emerging market momentum improves.

Consensus forecasts compiled by Haleon show steady revenue and profit growth through 2027, with analysts expecting group organic sales to rise 3.4% in 2025 and accelerate further in subsequent years.

Operating margins are projected to climb from 22.4% in 2025 to 23.3% in 2027, while adjusted earnings per share are forecast to expand from 18.4p to 22.6p.