Jefferies lifts Magnum price target but warns hot summer sets a trap for 2027
Jefferies raised its price target on Magnum Ice Cream (MICC) by 15% to €15.60 from €13.50, keeping a hold rating. It cited strong 2026 sales boosted by an exceptional North European summer, lifting Q2 volumes by about 3 points. Full-year like-for-like growth forecast was raised to 5%, but 2027 cut to 1.5% due to tougher comparisons and possible price cuts. Regulatory pressure in Turkey and valuation at 16x forecast earnings were also noted.





