London, July 6, 2026, 17:09 BST
- Reckitt slipped 0.47%, showing a 5,086p/5,088p sell/buy. The FTSE 100 (INDEXFTSE:UKX) was off 0.26%.
- MarketScreener data had the stock gaining 2.95% in the last five days, but it’s fallen 18.62% since Jan. 1.
- Nineteen analysts have set an average target price of £61.80, which is roughly 21.5% higher than the 5,088p level.
- H2 consensus sees EBIT up 29.5% from H1 levels; UBS flags a risk to 2026 core growth guidance being cut.
Reckitt Benckiser Group plc (LON:RKT) heads into July’s results run lacking chart momentum, while forecasts continue to price in a rebound for the back half.
Shares quoted at 5,086p to sell and 5,088p to buy after the London close, down 24p, or 0.47%. The move lagged the FTSE 100 (INDEXFTSE:UKX), off 0.26%. Volume came in at 1.38 million, lighter than what’s seen on major results days, but the stock stayed in focus ahead of the next update.
For investors, the spread in targets is the key point. MarketScreener’s consensus lists 19 analysts on Reckitt, with an “outperform” mean, an average price target of £61.80, a high of £75, and a low of £51.79. At Monday’s 5,088p quote, the average target points to almost 21.5% upside. The low estimate is just 1.8% above the current price. MarketScreener
| Target marker | Price | Gap vs 5,088p |
|---|---|---|
| Low end | £51.79 | +1.8% |
| Average | £61.80 | +21.5% |
| High end | £75.00 | +47.4% |
The range is key since what happens next depends less on the share price today and more on Reckitt’s ability to keep its 2026 outlook. In a June 23 pre-close aide memoire, Reckitt said it was sticking with its Core Reckitt like-for-like net revenue growth target of 4% to 5% for 2026. The company said it still expects the group’s adjusted operating margin will be concentrated in the back half of the year.
UBS is on the other side here. Finimize said last week the bank is looking for 3.9% like-for-like sales growth for Q2, but thinks the company will cut its 2026 core guidance to 3% to 4% from 4% to 5%. UBS kept its buy rating and £74 price target, per the same report.
The forecast bridge points to a tough bar for July 29. MarketScreener numbers, adjusted for the consolidation, show H2 net sales 7.7% above H1 and H2 EBIT 29.5% higher than H1. Reckitt has flagged that H1 group adjusted operating margin should land about 200 basis points under the 24.6% margin from a year ago.
| Reckitt forecast bridge | H1 2026 est. | H2 2026 est. | H2 vs H1 |
|---|---|---|---|
| Net sales | £6.192 bln | £6.669 bln | up 7.7% |
| EBITDA | £1.604 bln | £2.016 bln | up 25.7% |
| EBIT | £1.388 bln | £1.798 bln | up 29.5% |
Core Reckitt is moving off a soft open to the year. In April, CEO Kris Licht called out just 1.3% like-for-like net revenue growth for Q1 as cold and flu season lagged, Europeans spent less, and geopolitics weighed. “We maintain our LFL net revenue guidance for 2026,” Licht said. Reckitt
Reckitt shares dropped as much as 7% after the Q1 sales miss and margin warning, according to Reuters. Harsharan Mann at Aviva Investors, which owns Reckitt shares, called the results “broad-based muted growth.” Reuters
Reckitt shares have bounced 2.95% in five days, according to MarketScreener, but the move hasn’t made up the slide this year. The stock is still off 18.62% for 2024. Shares now trade near the price the company used for its recent buyback.
Reckitt finished the last part of its £1 billion buyback, having bought 11.12 million shares from March 9 to June 15. The average price was £48.55. The stock traded at 5,088p on Monday, which is roughly 4.8% higher than that average. The company said it will announce any additional buybacks or future plans with its HY 2026 results.
| Annual consensus path | 2026e | 2027e | 2028e |
|---|---|---|---|
| Net sales | £12.770 bln | £13.286 bln | £13.808 bln |
| EPS | £3.014 | £3.444 | £3.835 |
| Free cash flow | £1.949 bln | £2.150 bln | £2.393 bln |
Annual forecasts still price in a recovery past 2026. MarketScreener puts net sales up 4.04% in 2027 and 3.93% in 2028, with EPS gaining 14.27% in 2027 and 11.34% in 2028. Free cash flow is shown hitting £2.39 billion in 2028.
Reckitt is set to present half-year results to investors on July 29 at 08:30 BST. The focus will be on whether it sticks with the 4% to 5% Core Reckitt sales guidance, keeps its H2 margin targets, and clears up its cash-return plans at the same time.
