LandBridge Co LLC

LB · NYSE

$79.54−$0.51 (−0.64%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $80.05

LB analyst rating

HoldConsensus of 6 analysts over the last 12 months. 33% rate it a buy.

Strong buy0
Buy2
Hold4
Underperform0
Sell0

12-month price target · 11 analysts

Average $93.07 (+17.0% upside)

Low: $75.75
Now: $79.54
High: $115.50

Upgrades and downgrades

The latest rating actions, newest first

LB analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Sep 1, 2026	Maintains	Neutral	$80.00 → $88.00	44%
Citigroup	Aug 26, 2026	Maintains	Neutral	$66.00 → $86.00	66%
Piper Sandler	Jul 21, 2026	Maintains	Neutral	$66.00 → $80.00	44%
Piper Sandler	May 8, 2026	Maintains	Neutral	$65.00 → $66.00	44%
Wells Fargo	Mar 18, 2026	Maintains	Overweight	$90.00 → $92.00	74%
Goldman Sachs	Mar 13, 2026	Maintains	Buy	$69.00 → $84.00	62%
Barclays	Feb 27, 2026	Maintains	Equal-Weight	$57.00 → $75.00	71%
Wells Fargo	Nov 26, 2025	Maintains	Overweight	$91.00 → $90.00	74%
Piper Sandler	Nov 24, 2025	Maintains	Neutral	$55.00 → $65.00	59%

The case for and against

Updated Oct 14, 2026

Bull case

LandBridge is viewed positively because the announced $40.50 cash acquisition by Fairstone validates the franchise and represents roughly 76% of LB’s Q3/26 tangible book value, while also highlighting strategic value in its commercial lending specialization and retail/SME portfolio. Underlying operations remain supportive, with commercial loan growth accelerating to 8.1% YoY in Q3/26, total loans up 0.9% YoY, and management expecting about 3% loan growth in 2027, even as credit quality stays contained with a 1.09% gross impaired loan ratio. Although Q3/26 PCLs rose to $25.6 million and the adjusted efficiency ratio was 76.1%, the isolated nature of the impaired commercial file and the transaction’s expected close by late 2026 reinforce the positive fundamental outlook.

Bear case

LandBridge is facing a deteriorating fundamental profile as Q3/26 adjusted EPS of $0.51 missed both the estimate and consensus of $0.63, with weak results driven by higher-than-expected impaired PCLs of $27.0 million and softer non-interest income of $52.3 million. Credit quality is worsening, as total PCLs rose about 130% YoY to $25.6 million and impaired PCLs increased about 38% YoY, while the gross impaired loan ratio edged up to 1.00% and loan growth slowed sharply. With Q2/26 adjusted EPS also missing at $0.46, loans expected to decline ~2% in 2026, and additional transaction-related charges in the $40 million range, earnings visibility and balance-sheet momentum look weak.

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