Berenberg raises target for Secunet stock from EUR 254.00 to EUR 260.00

Published on 09/30/2026 at 16:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 19.20 percent to EUR 204.70 million in first-half 2026. Secunet stock was last at EUR 240.00 on September 30, 2026 versus EUR 244.00.

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Secunet Security Networks AG (ISIN DE0007276503) was last at EUR 240.00 on Xetra on September 30, 2026, down 1.64 percent from the prior close of EUR 244.00. The latest market catalyst was Berenberg's September 28 target increase from EUR 254.00 to EUR 260.00, while its Buy rating remained unchanged.

Berenberg lifts its target

According to Investing.com on September 28, 2026, Berenberg raised its target from EUR 254.00 to EUR 260.00 and cited stronger growth expectations for 2027 after parliamentary approval for investment in Bundeswehr encryption technology. The new target lies 8.33 percent above the Xetra indication of EUR 240.00 on September 30, 2026.

The approval covers up to EUR 1.70 billion for modernizing secure communications networks, but the funding is not itself a confirmed order for Secunet. That distinction matters because the valuation now reflects future project execution as well as the company's existing operating momentum.

Orders grow faster than revenue

Secunet's first-half 2026 earnings call reported revenue of EUR 204.70 million, up 19.20 percent year over year, while EBIT rose 20.40 percent to EUR 8.70 million. Order intake increased 78.70 percent to EUR 287.40 million, giving the order book a stronger growth profile than the income statement.

According to Yahoo Finance, management specified 2026 revenue guidance at EUR 460.00 million to EUR 500.00 million, with the outlook positioned at the upper end of that range. The half-year EBIT margin was 4.25 percent, calculated from EUR 8.70 million of EBIT and EUR 204.70 million of revenue, so the second-half delivery schedule remains central to the full-year outcome.

Leadership change adds a second date

According to EQS News on September 24, 2026, Dr. Alexandra Heine will become CFO on January 1, 2027, succeeding Jessica Nospers. Secunet's investor-relations calendar lists November 12, 2026, for the quarterly communication covering the period ended September 30, 2026, according to secunet.

Stock stays below yearly high

The Xetra indication of EUR 240.00 on September 30, 2026 stood below the 52-week high of EUR 255.00 and above the 52-week low of EUR 152.80. The market capitalization was EUR 1.57 billion on the same date, while the next results date is November 12, 2026.