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Recent price target moves on Smiths Group have pulled in opposite directions, with bullish analysts lifting targets by 90 GBp and 100 GBp, while others have reset expectations closer to 2,700 GBp. These changes reflect a split in the analyst community, where some houses see upside based on Smiths Group's prospects and others highlight growth risks and potential execution issues. Read on to see what is driving this evolving narrative and how you can track it over time.
Stay updated as the Fair Value for Smiths Group shifts by adding it to your watchlist or portfolio . Alternatively, explore our Community to discover new perspectives on Smiths Group.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
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Citi lifted its Smiths Group price target by 100 GBp in January 2026, which indicates that its analysts see room for the shares to support a higher valuation than before.
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JPMorgan also raised its target by 90 GBp earlier in the year, pointing to a view that Smiths Group's execution and earnings profile can justify a stronger share price than previously reflected.
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Berenberg shifted to a more positive stance with an upgrade in January 2026, suggesting increased confidence in how Smiths Group is running the business and its potential to create value over time.
🐻 Bearish Takeaways
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BNP Paribas moved Smiths Group to Neutral from Outperform with a £27 price target, explicitly flagging growth expectations that sit below consensus, which may limit upside if those estimates prove accurate.
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JPMorgan later reduced its target by 210 GBp in March 2026, highlighting that some earlier optimism has been tempered and that risks around execution and growth are an active part of the debate on the stock.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!
We've flagged 2 risks for Smiths Group. See which could impact your investment.
What's in the News
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Smiths Group issued earnings guidance for fiscal 2026, indicating an expected operating profit margin of around 20%, which it linked directly to its medium term financial targets.
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The Board recommended an interim dividend of 15.00p per share for the six months ended 31 January 2026, described as a 5.4% year on year increase.
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The interim dividend is scheduled for payment on 13 May 2026 to shareholders on the register at close of business on 7 April 2026, with an ex dividend date of 2 April 2026.
How This Changes the Fair Value For Smiths Group
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The fair value estimate remains unchanged at £28.11 per share, with no adjustment to the core valuation anchor.
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The long term revenue growth assumption remains at around a 12.78% decline, with no material revision to top line expectations in the model.
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The assumed net profit margin stays broadly unchanged at about 13.42%, indicating stable profitability assumptions.
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The assumed future P/E multiple is slightly higher at about 36.93x, compared with 36.87x previously.
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The discount rate used in the model is now about 7.99%, compared with 7.94% previously.
Never Miss an Update: Follow The Narrative
Narratives connect a company's business story to the assumptions that sit behind its forecasts and fair value. They update as new data, guidance, and risks come through, so you can see how the thesis changes over time.
Head over to the Simply Wall St Community and follow the Narrative on Smiths Group to stay up to date on:
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How the planned divestment of Smiths Interconnect and Smiths Detection and a focus on high performance flow and heat technologies are expected to reshape margins.
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The role of the £500m share buyback, disposal proceeds, and the Future Smiths and acceleration plans in the earnings and EPS outlook.
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Key pressure points such as the cybersecurity incident at John Crane, mix related margin headwinds, housing linked exposure in Flex Tek, and tariff and supply chain risks.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include SMIN.L .
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