Berenberg keeps Buy on Grenke stock at EUR 23.00

Published on 10/01/2026 at 15:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half earnings reached EUR 32.60 million. Grenke stock costs EUR 10.63 versus EUR 10.96, down 3.01 percent on October 1, 2026.

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Grenke (ISIN DE000A161N30) stock was at EUR 10.63 at Lang & Schwarz on October 1, 2026 at 3:31 p.m. CEST, down 3.01 percent versus the EUR 10.96 prior close. The latest analyst signal came from Berenberg, which kept its Buy rating and EUR 23.00 price target on September 24, 2026, according to wallstreetONLINE.

First-half earnings rose 24.43 percent

According to Yahoo Finance, Grenke reported group earnings of EUR 32.60 million in the first half of 2026, up from EUR 26.20 million in the previous first half. That is a 24.43 percent increase, giving the analyst target a stronger operating backdrop than the share price alone suggests.

The same earnings call put operating income at EUR 353.00 million in the first half of 2026, an 11.00 percent increase. Leasing new business rose 1.40 percent to EUR 1.60 billion, while the CM2 margin stood at 15.90 percent for the period.

Credit risk remains the counterweight

Grenke also reported a 2.00 percent loss rate in the first half of 2026, above its long-term average of 1.50 percent. Management expects the full-year loss rate to fall below 2.00 percent, but the credit trend remains the key condition for converting operating growth into higher profitability.

The company confirmed 2026 earnings guidance of EUR 74 million to EUR 86 million. It expects leasing new business at the lower end of its EUR 3.40 billion to EUR 3.60 billion range and a cost-income ratio below 55.00 percent, according to Yahoo Finance.

Next report is scheduled for November 12

Grenke's investor-relations calendar lists November 12, 2026 for its quarterly statement covering the third quarter and the first nine months of 2026, according to the grenke investor-relations page. That report should provide the next quantified test of whether the loss rate is moving below 2.00 percent while operating income continues to grow.

Grenke stock falls below EUR 11.00

At Lang & Schwarz, Grenke stock was trading at EUR 10.63 on October 1, 2026 at 3:31 p.m. CEST, compared with the EUR 10.96 prior close on September 30, 2026. The price is 53.78 percent below Berenberg's EUR 23.00 target, calculated in euros against the same currency, while the confirmed earnings range and November reporting date offer the next company-specific reference points.

The further course of trading is shown by the continuously updated real-time quote of Grenke stock.