Deutsche Bank lifts Applied Nutrition target as strong trading combines with US acquisition Proactive uses images sourced from Shutterstock
Applied Nutrition PLC (LSE:APN), the sports nutrition company, yesterday delivered a double dose of good news, prompting Deutsche Bank to raise its price target from 306p to 335p while maintaining its ‘buy’ rating on the stock, which closed at 272p.
Management now expects revenues of approximately £148 million for financial year 2026, representing growth of 38% and coming in ahead of expectations, with strong trading recorded across all major regions.
Deutsche analyst Damian McNeela notes there has been minimal impact on the business from Middle East disruption, which had been a concern given the company’s exposure to that region.
EBITDA margins of approximately 28% are expected to be maintained, which McNeela calculates translates into an adjusted earnings per share upgrade of around 6% for financial year 2026.
Alongside the trading update, Applied Nutrition has announced the acquisition of the trade and majority of assets of Nutrablend Group, a US-based sports nutrition manufacturer, for a total cash consideration of $16 million, equivalent to approximately £12 million, funded from existing cash resources.
The US deal gives Applied Nutrition a manufacturing foothold in the world’s largest sports nutrition market.