Berenberg Ups Delivery Hero Estimates as Q2 Results Top Expectations; Buy Rating Kept

MT Newswires · 2d ago
05:58 AM EDT, 08/28/2026 (MT Newswires) -- Berenberg revised its Delivery Hero (DHER.F) estimates after the company's second-quarter results came in above expectations. "Delivery Hero's Q2/H1 results of 27 August revealed a stronger-than-expected operational development, with a scaling quick-commerce business forming the strongest driver and allowing the company to raise its full-year guidance. As well as being good news for Delivery Hero, we also believe that these results will be celebrated at Uber (UT8.F, UBER.VI) following its recent buyout offer. The timing of this is near perfect, in our view, as Delivery Hero seems to have overcome the challenges of recent years and is starting to reap the rewards of past investments," according to a Friday research note. The online food delivery company reported second-quarter gross merchandise value, or GMV, growth of 11.3% on a like-for-like basis to 13.2 billion euros, which Berenberg said reflects a 3% beat compared with consensus expectations of 12.8 billion euros. For 2026, Delivery Hero raised its GMV growth outlook to between 9% and 11%, from its previously expected 8% to 10% range. As such, the research firm raised its Delivery Hero earnings projections for 2026 to 2028. The stock's buy rating and price target of 41.50 euros were maintained.