Berenberg Lifts Forecasts for RS Group After Fiscal H1 Beat

01:26 AM EST, 11/13/2026 (MT Newswires) -- Berenberg raised its earnings estimates for RS Group (RS1.L) after the British industrial products distributor released better-than-expected fiscal first-half results. The research firm said Thursday the earnings report "validated" its buy rating, noting the group's 7% like-for-like revenue growth confirmed its expectations of a positive revenue cycle turn. "Trading was ahead of the market's expectations, driven by expansionary purchasing managers' indices (PMIs), leaving consensus forecasts too low for FY27 when considering H2's expected trajectory. Having been positioned ahead of consensus (c3% at the PBT level) into the results, we increase our FY27 earnings forecasts by a further 2%, while making changes of less than 1% to our outer-year forecasts after reviewing management's updated cost guidance," the note said. Accordingly, analysts lifted their fiscal 2027 like-for-like revenue growth estimate to 7% from 4.5% and boosted their 2027 and 2028 pretax profit projections by 2.2% and 0.7%, respectively. Ahead of the company's year-end results due in late March 2027, Berenberg said a sustained market recovery could offer further upside. The research firm's price target of 9 pounds sterling on the stock remains unchanged.