Sphene Capital reiterates Buy on NCTE, keeps price target at EUR 2.5

PUBT · 2d ago
Sphene Capital reiterates Buy on NCTE, keeps price target at EUR 2.5
  • Sphene Capital reiterated a Buy rating on NCTE with an unchanged EUR 2.5 price target over 36 months.
  • H1 2026 revenue rose 52.6% to EUR 2.3 million; EBITDA loss narrowed to EUR 0.4 million.
  • Order intake fell 43.4% to EUR 1.75 million; book-to-bill dropped to 0.76, signaling weaker near-term growth momentum.
  • Backlog declined to EUR 2.9 million from EUR 3.3 million; salesforce expansion targets a stronger pipeline in H2 2026.


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