NuWays reiterates Verbio at Buy, sets EUR 41 price target

PUBT · 1d ago
NuWays reiterates Verbio at Buy, sets EUR 41 price target
  • NuWays reiterated a BUY rating on Verbio, kept its 12-month target price at EUR 41.
  • Capital Markets Day outlined mid-cycle EBITDA of about EUR 300 million, versus down-cycle EUR 130 million, up-cycle EUR 500 million.
  • Management flagged potential upside from US 45Z and 45Q tax credits; guidance expected in November to improve visibility.
  • NuWays lifted FY27/28 and FY28/29 EBITDA forecasts by EUR 10 million each on an initial 45Z contribution.
  • Capex seen easing to about EUR 55 million in FY26/27; minimum dividend set at EUR 0.20 per share through the cycle.


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