Berenberg keeps Buy rating for Jungheinrich stock at EUR 37 target

The substitute Xetra price for Jungheinrich stock (ISIN DE0006219934) was EUR 22.86 on October 6, 2026, versus EUR 22.80 at the prior close, equal to plus 0.26 percent. According to FinanzNachrichten, Berenberg maintained its Buy rating and EUR 37.00 price target in its research note dated September 24, 2026.

Berenberg sees EUR 37 target

Berenberg's target implies EUR 14.14 of upside from the substitute Xetra price, or 61.84 percent when measured against EUR 22.86. The note, written by analyst Chris Armstrong, linked the positive view to expectations for an improving German economy, fiscal support and stronger exports, according to FinanzNachrichten.

The distance between the market quote and the target is substantial, but the target is an analyst assessment rather than a company forecast. For investors, that makes the first-half operating figures the more concrete test of the thesis.

First-half revenue reaches EUR 2.67 billion

Jungheinrich generated EUR 2.67 billion of revenue in the first half of 2026, while operating profit reached EUR 178.00 million, according to FinanzNachrichten. The figures give the analyst case a current operating reference, with profit equal to 6.67 percent of revenue.

Jungheinrich makes forklifts, warehouse equipment and intralogistics solutions. The company's investor-relations page describes its offering as a combination of products, service and related services, while its 2026 annual meeting took place on May 19, 2026, according to Jungheinrich.

Quote remains above yearly low

The finance quote for JUN3.DE shows a 52-week range of EUR 21.72 to EUR 38.16 and market capitalization of EUR 2.3 billion as of October 6, 2026. The EUR 22.86 quote was EUR 1.14 above the yearly low and EUR 15.30 below the yearly high, placing the stock near the lower end of its annual range.

The next market test is whether operating profit can support the gap between the EUR 22.86 Xetra quote and Berenberg's EUR 37.00 target. The figures do not remove execution risk, but they give the debate a defined comparison between current valuation, reported performance and analyst expectations.

Jungheinrich stock stays near yearly low

The substitute price on Xetra was EUR 22.86 on October 6, 2026, at 4:45 p.m. CEST, versus the Xetra prior close of EUR 22.80, a gain of plus 0.26 percent. Price source: substitute price Xetra, Lang & Schwarz without data set.

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