Sphene Capital Cuts Surteco Price Target to EUR 19.30 From EUR 20.80
Bitget2026/11/02 06:53- Sphene Capital cut Surteco's 24-month price target to EUR 19.30 from EUR 20.80 in a Nov. 2, 2026, report.
- The firm retained its Buy rating as nine-month 2026 results met expectations.
- Adjusted EBITDA rose despite lower revenue, but higher restructuring costs, depreciation and interest expenses weighed on earnings.
- Management reaffirmed full-year revenue guidance of EUR 790 million–EUR 820 million, with adjusted EBITDA of EUR 80 million–EUR 90 million.
- A substantial working capital buildup reduced cash holdings, pushing net financial debt above its year-end 2025 level.
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