Berenberg and JPMorgan revise forecasts for Volex and Ocado
Berenberg expects Volex EBIT to grow 23% in FY27, while JPMorgan raised its Ocado target price to 460p. Broker roundup from Sharecast.
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what happened
According to Sharecast, Berenberg noted a strong six-month period to 30 September for Volex, with organic revenue up 21% and all five core end-markets contributing robustly. The bank now forecasts 23% EBIT growth in FY27, well above the roughly 15% compound rate needed to reach the group's targets. It lifted its EPS estimates by about 5% and called the recent share-price weakness overdone.
Ocado shares rose on Tuesday after JPMorgan raised its target price to 460p from 290p and kept its 'overweight' rating. The bank pointed to five customer fulfilment centre ramp-ups scheduled for 2027-2029 and projected a group EBITDA compound annual growth rate of 21% for 2025-2028. Management, JPMorgan said, remains highly confident of reaching underlying free cash flow break-even by H2 2026.
why it matters
Broker revisions shape valuations of individual stocks and sector expectations: for Volex the key factors are margins and EV growth, for Ocado progress in technology solutions and partnerships. According to JPMorgan, its new target only credits contracted capacity and is conservative, as it assumes no incremental modules.
market impact
Volex and Ocado: broker forecast revisions may support investor interest in the shares
tags
instruments
sources
- Broker tips: Volex, Ocado — Sharecast, 20 October 2026 at 15:02 UTC
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