Original-Research: Mister Spex SE (von Quirin Privatbank Kapitalmarktgeschäft): Hold

Original-Research: Mister Spex SE - from Quirin Privatbank Kapitalmarktgeschäft

30.03.2026 / 15:33 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.

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Classification of Quirin Privatbank Kapitalmarktgeschäft to Mister Spex SE

Company Name:	Mister Spex SE
ISIN:	DE000A3CSAE2
Reason for the research:	update
Recommendation:	Hold
from:	30.03.2026
Target price:	2.00
Last rating change:
Analyst:	Ralf Marinoni

Business remains challenging

Mister Spex fulfilled its FY 2025 guidance; its outlook for the current business (revenue is expected to be flat to down 10%) indicates further adjustments in its business model and company structure. To reflect this, we changed our assumptions in the DCF model and derive a new TP of EUR 2.00 (EUR 5.00). We change our recommendation from Buy to Hold.



You can download the research here: MISTER_SPEX_20260330k
For additional information visit our website: https://research.quirinprivatbank.de/

Contact for questions:
Quirin Privatbank AG
Institutionelles Research
Schillerstraße 20
60313 Frankfurt am Main
[e-mail]
https://research.quirinprivatbank.de/

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2300460 30.03.2026 CET/CEST