JP Morgan upgrades Kingspan on data centre momentum

What Brokers Say Retail & Consumer Written by: Ian Lyall 12:30 Wed 09 Sep 2026 --> Edited by: Ian Lyall Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output at the Daily... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Kingspan Group PLC ( ISE:KRX ) View Price & Profile JP Morgan upgrades Kingspan on data centre momentum Published: 12:30 09 Sep 2026 BST JP Morgan has upgraded Kingspan Group PLC (ISE:KRX) , the Irish building materials group, to 'overweight' from 'neutral', citing strong earnings momentum from its data centre exposure that it believes is not fully reflected in the valuation. Order intake on data solutions for Kingspan's Advnsys segment has nearly quadrupled, yet the shares trade on 13 times 12-month forward EV/EBITDA, a discount of around 7% to their long-term average. A sum-of-the-parts analysis by JP Morgan finds the Advnsys segment trading at a 15% discount to the relevant European capital goods data centre peer group, despite comparable margins and growth trajectory. JP Morgan analyst Elodie Rall set a December 2027 price target of €130 on the shares. Beyond data centres, Kingspan will host a capital markets day on 10 November in Oklahoma, expected to focus on its strategy for the commercial flat roof market in the United States, where the group has already outlined ambitions for a 15% market share. JP Morgan said execution on the roofing strategy could prove a material source of upside in coming years, though the market has yet to fully appreciate this given the modest near-term contribution expected. The bank also noted that Kingspan is a preferred play in an inflationary environment, with structural reasons for steel costs to continue rising given tariffs, the Carbon Border Adjustment Mechanism and rising EU carbon allowance pricing. Continue reading