UBS Upbeat on Magnum Ice Cream Co. Amid Consistently Better-than-expected Quarterly Results

11:45 AM EDT, 08/19/2026 (MT Newswires) -- UBS Global Research expects the Magnum Ice Cream Co. (MICC.AS, MICC.L) investment case to further strengthen in the second half, noting that the company has so far delivered consistently better-than-expected quarterly results in its first year as a standalone business. "Since the start of the year, TMICC share price has appreciated by 20%, significantly outperforming the European Food & HPC large caps by 27%. Do we see additional upside from here? Yes, in our view, as we expect the back half of 2026 to bring additional evidence of the company's compelling medium term prospects," analysts said Wednesday, anticipating the company to achieve consistent market share gains on the back of strong category growth and improved execution. As such, the price target was increased to 18.30 euros from 15.50 euros, with a buy rating on the stock. Analysts also lifted their 2026 EPS estimates by 8%, alongside higher organic sales growth and EBITDA margin expectations. For 2027 and 2028, EPS forecasts were raised by 13% and 11%, respectively. "At the time of the listing (Dec 8th 2025), many structural concerns were weighing on TMICC's investment case ... Nearly 9 months later, we see most of these overhangs being gradually removed thanks to consistently better than expected quarterly numbers - both in terms of headline numbers and quality of OSG and margin delivery. Investors becoming more familiar with the company and additional positive earnings surprises should therefore pace the way for further re-rating of TMICC shares," UBS added.