Amrize's (AMRZ) 2027 period should be better than 2026, with earnings growth returning to its mid-term target range for the first time in three years, UBS Securities said in a Tuesday note.

Adjusted earnings before interest, taxes, depreciation, and amortization in 2026 are likely to be at par with 2024 levels and "far" from the company's target of an 8% to 11% growth per annum, the brokerage said.

The investment firm cut its fiscal 2026 to 2028 adjusted EPS estimates by 4% to 5% following its reviews of data-center construction and US cement, leaving its forecasts roughly in line with consensus.

According to UBS, Amrize's adjusted EBITDA could increase by 9% in 2027, with demand tailwinds partly offsetting expected import pressures. The company's building envelope segment is poised for mid-teens growth, while the building materials segment is estimated to grow 7%.

Data center construction should also add up to 200 basis points to Amrize's 2027 volume growth, according to the note.

UBS reiterated its neutral rating on Amrize and cut its price target to $42 from $57.

Price: 38.64, Change: +0.05, Percent Change: +0.13