LONDON, March 17, 2026, 19:20 GMT
Haleon climbed on Tuesday, London shares finishing roughly 2.4% higher while the U.S. stock added about 1.5% to $10.62 as of 19:04 UTC. The move followed Berenberg’s target price bump and news that the company had started buying back shares under its fresh £500 million program.
This is significant for Haleon, still working to recover after its February 25 forecast for 2026 organic revenue growth landed at 3% to 5%. That’s not just under analysts’ 4.4% consensus estimate—it’s also below the company’s own medium-term target. Organic revenue, importantly, excludes currency moves and the impacts of recent acquisitions or disposals.
Berenberg left its buy rating unchanged Monday, bumping up its target price for Haleon to 512 pence from the previous 510, pointing to 2026 as a likely inflection year as the company pivots further toward its consumer strategy. Shares of sector peer Reckitt Benckiser were also on the rise during the session.
Haleon snapped up 2,749,486 shares for cancellation, according to a Monday filing, the trades taking place on March 12 and 13—just days into its newly launched buyback. The repurchase kicked off March 12, with HSBC handling the orders across the London Stock Exchange, CBOE platforms and Aquis. The program runs through Aug. 19 at the latest. Every share bought will be cancelled.
The U.S. remains the sticking point. Back in February, Haleon reported a 2.1% uptick in fourth-quarter organic revenue—held back by a light cold-and-flu season. Softer U.S. consumer demand and increased competition led some buyers to switch to less expensive alternatives. “We feel confident the U.S. will grow this year,” CEO Brian McNamara said at the time, pointing to leadership changes and distribution overhauls as factors that could return Haleon to its 4% to 6% medium-term growth target by 2027. Reuters
China stands out as the stronger spot. Just last week, Haleon pledged £65 million for a new oral-health facility in Shanghai, with plans to roll out Parodontax to over 30 cities across China by the close of 2027. McNamara described the country as “an incredible market.” Reuters
Jayant Singh, who leads global oral health at Haleon, said the Parodontax relaunch was tweaked to fit local preferences—think sweeter taste, extra foam, flashier packaging. These “minor nuances,” according to Singh, make a difference in a market where Haleon figures Sensodyne is in only about 11% of homes, trailing far behind Yunnan Baiyao’s 29.8%. Reuters
The pressure on household budgets hasn’t eased. North America sales slipped 1% in the fourth quarter. Rival promotions undercut multivitamin demand. Chris Beckett at Quilter Cheviot put it plainly: “many U.S. households feel financially stretched.” The squeeze isn’t just hitting groceries—now it’s dragging down over-the-counter, or non-prescription, meds too. Reuters
Right now, the buyback and a slightly more positive stance from brokers are helping to steady the stock. But for a more lasting valuation shift, Haleon still has to prove it can squeeze enough out of its China ambitions and capital returns to counter weaker U.S. sales and actually reach those 2026 profit targets set last month.
