Scale Market Report: "Many success stories"
2G Energy, Cantourage, Deutsche Rohstoff—many companies in the Scale segment have posted impressive results this year. The segment as a whole is also performing well.
June 16, 2026. FRANKFURT (Deutsche Börse). Even the Scale micro-cap segment cannot escape the broader market trends. At the beginning of the month, the Scale All Share had climbed to a four-year high of 1,756 points. By Monday afternoon, however, it had fallen back to just 1,625 points. Since the start of the year, however, it is still up 18 percent.
2G Energy (DE000A0HL8N9)—one of the driving forces in the Scale—even reached an all-time high of 76 euros at the start of the month. While the stock is now trading at 64 euros again, it was only 34 euros at the start of the year. At the end of May, the manufacturer of sustainable power plants, combined heat and power (CHP) systems, and heat pumps announced a major order in its Data Center division. “The order takes 2G’s business to a new level,” comments the research firm First Berlin. It recommends buying the stock and has significantly raised its price target from 44 to 73 euros. “A very large order—and more could follow,” says SMC Research. Here, too, the recommendation is “Buy,” with a price target of as high as 78 euros.
2G is now in the lead.
The top performer in terms of revenue in the Scale segment in May was 2G Energy (98 million euros). Pfisterer (€78 million), the revenue leader in previous months, now ranks second. It is followed by Deutsche Rohstoff AG (€43 million), Nynomic (€25 million), Gabler (€16 million), and Mensch und Maschine (€16 million). 2G has also led the pack since the beginning of the year, followed by Deutsche Rohstoff and Mensch und Maschine.
German Commodities Double in Price
Oil producer Deutsche Rohstoff (DE000A0XYG76) is suffering today, Monday, from the peace agreement between Iran and the U.S., which is causing oil prices to fall. Nevertheless, the company is among this year’s winners: At the start of the year, the stock was trading below 50 euros; it peaked at 114 euros and is currently still at 100 euros. Earlier this month, Deutsche Rohstoff reported a successful start to its 2026 U.S. drilling program. Deutsche Rohstoff is rated by Fist Berlin and MWB Research, both of which have the stock rated “Buy.” The price targets of 145 and 135 euros are well above the current price.
Cantourage is flying “high”
Things are also going well for Cantourage (DE000A3DSV01), the medical cannabis provider. After trading at 3.30 euros at the end of 2025, the stock now costs 5.92 euros—almost double the previous price. Cantourage went public in November 2022, with an initial price of 6.48 euros. Cantourage also has many supporters: Montega, NuWays, and First Berlin have rated the stock, with the ticker symbol HIGH.F, as a “Buy,” with price targets of 9 euros, 10 euros, and 11 euros.
Defense Stocks: Is the Boom Over?
Things are moving more slowly for defense stocks in the Scale segment. Steyr Motors (AT0000A3FW25) has lost ground after a strong start to the year and is currently trading at 33 euros, below its level at the end of 2025. However, since its IPO in October 2024 at an issue price of 14 euros, the share price has still more than doubled. The Gabler Group (DE000A421RZ9) is more or less treading water. The Lübeck-based submarine supplier went public in March at 44 euros; Gabler is currently trading at 42 euros.
Cenit Not Alone in Segment Change
The IT company Cenit AG (DE0005407100) moved from the regulated market to the Scale segment at the end of April, and several other companies are now expected to follow: FCR Immobilien (DE000A1YC913), automotive supplier Paragon (<ADE0005558696>), and telecommunications company ecotel communication (DE0005854343) have already announced this move. The background to this is the Act on the Promotion of Private Investment and the Financial Center (Standortfördergesetz), which largely came into force in February 2026 and facilitates the change of segment.
Additional recommendations for Scale stocks
| Research firm/bank | Scale companies | Recommendation | Target price in euros | Current exchange rate in euros |
|---|---|---|---|---|
| Montega | IBU-tec | Buy | 25,00 | 17,20 |
| SMC-Research | Daldrup & Söhne | Buy | 29,00 | 19,55 |
| Quirin | Daldrup & Söhne | Buy | 28,80 | 19,55 |
| First Berlin | Laiqon | Buy | 8,70 | 4,51 |
| Montega | Ernst Russ | Buy | 13,50 | 8,32 |
| SMC-Research | Blue Cap | Buy | 29,00 | 19,00 |
| BankM | Ökoworld | Buy | 39,15 | 31,30 |
| NuWays | Nabaltec | Buy | 16,00 | 13,00 |
| NuWays | Steyr Motors | Buy | 60,00 | 33,00 |
| First Berlin | The Platform Group | Buy | 19,00 | 1,51 |
| NuWays | The Platform Group | Buy | 17,00 | 1,51 |
By Anna-Maria Borse © June 15, 2026, Deutsche Börse AG
About the Author
Anna-Maria Borse is a finance and business editor specializing in financial markets, the stock market, and economic issues.
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