DAVY VIEW

What is essential to evaluate with Kingspan is not just where the group is but where it is going. In this regard, the direction of travel remains exciting and we believe this is a journey that will continue to reward investors. While our current forecasts err on the side of caution, there is a pattern of upgrades over the course of a year and 2024 unquestionably has the potential to maintain this tradition. We upgrade our price target to €92 and reiterate our confidence that Kingspan will remain a sector leader and winner.