Azimut stock draws support from a EUR 46.00 Deutsche Bank target

Published on 09/29/2026 at 15:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Azimut stock draws analyst attention after Deutsche Bank raised its target from EUR 35.00 to EUR 46.00 on September 3, 2026. H1 revenue rose 21 percent.

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Azimut (ISIN IT0001050910) has a fresh analyst reference point after Deutsche Bank raised its 12-month price target from EUR 35.00 to EUR 46.00 on September 3, 2026. The call followed a first-half performance marked by EUR 781.0 million in revenue and recurring net profit of EUR 249.0 million.

Deutsche Bank lifts its target

As Investing.com reported on September 3, 2026, Deutsche Bank upgraded Azimut from Hold to Buy and increased the target from EUR 35.00 to EUR 46.00. The new target is 31.43 percent above the prior target, making the analyst revision a material change in the valuation framework.

The target revision came against a reported prior close of EUR 37.90 on September 3, 2026. The same report linked the upgrade to recurring revenue growth, recurring profit growth, record assets under management and the company's capital-return framework.

H1 revenue reaches EUR 781.0 million

According to Quartr in its September 10, 2026 earnings summary, Azimut generated EUR 781.0 million in H1 2026 revenue, up 21 percent from H1 2025. EBIT reached EUR 354.0 million, while recurring EBIT increased 10 percent to EUR 310.0 million.

Recurring net profit rose 6 percent year over year to EUR 249.0 million, compared with reported group net profit of EUR 242.0 million. H1 net inflows totaled EUR 8.1 billion, equal to 81 percent of the original full-year target, and 53 percent came from international operations.

Acquisitions shape the outlook

Azimut upgraded its 2026 net inflows guidance to at least EUR 35 billion and confirmed a EUR 550.0 million net profit target excluding extraordinary items, according to Quartr. The guidance incorporates the planned EUR 305.0 million acquisition of Yap? Kredi Portföy and assumes normal market conditions.

MarketScreener reported on September 21, 2026, that Azimut agreed to acquire the remaining 49 percent of Kennedy Capital Management, taking ownership to 100 percent. The transaction is expected to close by the end of 2026 and adds another US investment platform to the group's expansion strategy.

Market value and next results

Azimut's market capitalization was EUR 5.6 billion as of September 29, 2026, while its 52-week range stood at EUR 30.19 to EUR 40.39. The next scheduled earnings release is November 4, 2026, giving investors a defined checkpoint for the 2026 guidance.