Eckert & Ziegler stock: NuWays keeps BUY after Q3 recovery

NuWays maintained its BUY rating on Eckert & Ziegler after the company's third-quarter recovery, in research published on Friday, November 13, 2026. The analyst kept the 12-month target price at 21.50 euros, according to EQS News.

Eckert & Ziegler stock traded at 15.23 euros on Lang & Schwarz at 17:43 CET on Friday, November 13, 2026, 0.72 percent below the Xetra close of Friday, November 13, at 15.34 euros.

Q3 recovery broadens

NuWays described the third quarter as a return to growth in adjusted EBIT. Group sales rose 6 percent year on year to 79.6 million euros, while adjusted EBIT increased 25 percent to 19.3 million euros. The margin expanded to 24.2 percent, helped by the Medical mix and improving profitability in Isotope Products.

Medical remained the main earnings driver. Segment sales increased 4 percent to 40.6 million euros, while adjusted EBIT rose 46 percent to 11.3 million euros. Over the first nine months, Lu-177 sales increased 280 percent and contract development and manufacturing organization sales rose 57 percent, while plant engineering remained weak.

Fourth quarter sets the hurdle

NuWays said the confirmed 2026 outlook implies fourth-quarter sales of 91 million euros and adjusted EBIT of 27.4 million euros. Expected licence income of 3 million to 5.6 million euros would be below the 9.4 million euros recorded in the fourth quarter of 2025, increasing the importance of underlying operations.

The research also highlighted therapeutic isotopes as a medium-term growth lever. Lu-177 sales are expected to reach 7 million to 8 million euros in 2026 and could approach 15 million euros in 2027, while Ac-225 production received GMP certification in October.

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