NuWays sets SMAG price target at EUR 47, keeps Buy rating

PUBT · 1d ago
NuWays sets SMAG price target at EUR 47, keeps Buy rating
  • NuWays reiterated its BUY rating on Smag Mobile Antenna Masts, setting a 12-month target price of EUR 47.
  • Q2 total output rose 31% to EUR 10.3 million; sales increased 4% to EUR 6.2 million as work in progress built.
  • Adjusted EBIT fell to EUR 200,000, a 1.9% margin, as staffing and capacity investment weighed on earnings.
  • A EUR 70 million defense-prime contract shifted volume into fixed backlog; fixed backlog reached EUR 182 million at end-June.
  • FY26 guidance was reiterated: EUR 55-60 million total output, 19-21% adjusted EBIT margin.


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