Berenberg raised K+S target to EUR 13.00. K+S stock falls 2.78 percent

Published on 10/09/2026 at 13:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Berenberg kept Sell after lifting its target to EUR 13.00. K+S stock costs EUR 14.67 on October 9, 2026 versus EUR 15.09 at the prior close.

Key points in brief

Berenberg raised its K+S target to EUR 13.00 while retaining a Sell rating on September 28, 2026.
K+S stock was trading at EUR 14.67 at Lang & Schwarz on October 9, 2026, down 2.78 percent versus EUR 15.09.
Second-quarter 2026 revenue rose 12.29 percent to EUR 978.30 million, while 2026 EBITDA guidance reached EUR 680 million to EUR 760 million.
K+S is scheduled to publish its third-quarter 2026 report on November 10, 2026.

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K+S stock (ISIN DE000KSAG888) was trading at EUR 14.67 at Lang & Schwarz on October 9, 2026 at 1:21 p.m. CEST, down 2.78 percent versus the prior close of EUR 15.09. On September 28, 2026, FinanzNachrichten reported that Berenberg raised its K+S target from EUR 11.40 to EUR 13.00 while retaining a Sell rating. At the current Lang & Schwarz price, the stock stood 12.85 percent above that target.

Three events changed the picture

K+S reported revenue of EUR 3.65 billion and EBITDA of EUR 612.80 million for fiscal year 2025 on March 12, 2026. The company then announced EUR 320.00 million of convertible bonds due in 2031 on June 9, 2026, according to K+S.

The latest event was the September 28 analyst update. Berenberg cited higher near-term potash price expectations and the Qemetica salt-business acquisition when raising its target, but also pointed to rising potash supply from 2027 and weaker confidence in the 2028 operating earnings consensus.

What the target change signals

The contrast is measurable. Second-quarter 2026 revenue rose 12.29 percent year over year to EUR 978.30 million, while operating EBITDA reached EUR 176.00 million, according to Investing.com. K+S raised its 2026 EBITDA guidance to EUR 680 million to EUR 760 million from EUR 680 million to EUR 730 million.

The risk is concentrated beyond the current reporting period. Berenberg expects a more difficult potash supply picture from 2027, while analysts cited by finanzen.net expected a small net loss for the third quarter and average revenue of EUR 896 million.

Next reporting dates are set

The next company date is November 10, 2026, when K+S is scheduled to publish its third-quarter 2026 report, according to Investing.com. The planned Qemetica salt-business closing is scheduled for the first quarter of 2027, subject to regulatory approval.

Stock faces a quantified test

The reference price was EUR 14.67 at Lang & Schwarz on October 9, 2026 at 1:21 p.m. CEST, down 2.78 percent against the EUR 15.09 prior close at Lang & Schwarz on October 8, 2026. The combination of a EUR 13.00 Berenberg target and EUR 680 million to EUR 760 million company guidance leaves potash pricing and supply as the key variables for the next report.

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