Birkenstock Price Target Cut to $49, Q1 Revenue Up 11.1%
Deutsche Bank lowered its price target on Birkenstock to $49 from $50 while maintaining a buy rating. Birkenstock reported Q1 revenue of EUR 401.9 million, up 11.1% year-over-year, and its CEO reiterated a three-year plan targeting 13-15% revenue growth and a 30%+ EBITDA margin.
1. Price Target Adjustment
On February 13, Deutsche Bank cut its price target on Birkenstock to $49 from $50 while affirming a buy rating, reflecting cautious near-term valuation despite optimistic long-term prospects.
2. First-Quarter Financial Results
In Q1 2026, Birkenstock generated revenue of EUR 401.9 million, an 11.1% increase from EUR 361.72 million a year earlier, driven by elevated holiday-season demand across its product lines.
3. Strategic Outlook and Supply Chain
CEO Oliver Reichert reiterated the three-year plan targeting 13-15% annual revenue growth in constant currency and a 30%+ EBITDA margin, noting that the vertically integrated supply chain is capacity constrained by design to preserve brand equity and optimize profit per pair.