Original-Research: MBB SE (von Quirin Privatbank Kapitalmarktgeschäft): Buy

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Original-Research: MBB SE - from Quirin Privatbank Kapitalmarktgeschäft

23.07.2026 / 10:39 CET/CEST

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Classification of Quirin Privatbank Kapitalmarktgeschäft to MBB SE

Company Name: MBB SE

ISIN: DE000A0ETBQ4

Reason for the research: update

Recommendation: Buy

from: 23.07.2026

Target price: 245.00

Last rating change:

Analyst: Ralf Marinoni

Increase of FY 2026 adj. EBITDA

According to preliminary figures, MBB had a strong Q2 in the current

business, particularly in terms of the increase in EBITDA. As a result, the

company increased its expectations for adj. EBITDA in FY 2026. Therefore, we

have increased our estimates and confirm our Buy recommendation with a new

EUR 245.00 (EUR 232.20) TP, based on a sum-of-the-parts approach.

You can download the research here:

https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&u=2b7c7b70f5da4977979e1022d826dfcf

For additional information visit our website:

https://research.quirinprivatbank.de/

Contact for questions:

Quirin Privatbank AG

Institutionelles Research

Schillerstraße 20

60313 Frankfurt am Main

research@quirinprivatbank.de

https://research.quirinprivatbank.de/

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2370624 23.07.2026 CET/CEST

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