08:17 AM EDT, 05/11/2026 (MT Newswires) -- Berenberg views Hexagon AB's (HEXA-B.ST) recently unveiled financial targets over the 2026 to 2030 period as "prudent"but noted that these "lack a spark"after a robust set of first-quarter results.

"In our view, Hexagon's new long-term targets, issued at its recent capital markets day (CMD) on 30 April, are reasonable and appropriate for the company's new era. Having said that, the margin expansion target is lower than we had previously assumed in our estimates,"the research firm said in a note published Monday. "With most of the high-margin software assets now either disposed of or planned for spin-off, the pace of margin expansion will likely slow going forward. We now assume that Hexagon's operating margins will only reach 30%, not the above-31% level we previously forecast by 2028."

As such, the price target was lowered to 100 kronor from 105 kronor, while the hold recommendation on the stock was retained.

EPS forecasts were downwardly adjusted by 6.8% for 2026, 3.5% for 2027 and 3.4% for 2028. Sales and EBIT estimates for all three years were also reduced.

Despite this, analysts were upbeat about the Swedish measurement technologies company's robotics business, noting an "exciting"opportunity presented by its AEON humanoid robots. "However, we await more clarity on the future of this business unit within the overall Hexagon group, particularly as the newly-issued 2030 targets exclude any future contribution from and investments in the Robotics division."