05:53 AM EDT, 05/13/2026 (MT Newswires) -- Amplifon's (AMP.MI) price target increased as Bernstein lifted its assumptions for the Italian hearing care retailer's earnings after first-quarter results and management commentary.

Revenues of 579.8 million euros came in 1% below consensus expectations, while organic growth of 2.2% was stronger than expectations of 1.5% and adjusted EBITDA of 141.8 million euros was in line.

"Q1 organic growth beat, but was likely helped by Fit4Growth store closures driving referrals to nearby Amplifon stores,"analysts said. "EMEA growth still appears to be underperforming the market. While management emphasized the flexibility between debt and equity on the capital raise, we still see a risk for greater equity should shares trade higher. On the positive side, commentary from both Amplifon and Demant suggested nascent improvements in the underlying hearing aid market, which gives upside to shares."

As such, EPS estimates for both 2026 and 2027 were increased by 8%, while out-year forecasts rose 3%. The price target jumped to 9.85 euros from 9.3 euros, with a reiterated market-perform rating.