Original-Research: MBB SE (von Quirin Privatbank Kapitalmarktgeschäft): Buy

Original-Research: MBB SE - from Quirin Privatbank Kapitalmarktgeschäft

15.05.2026 / 14:46 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 MBB SE

Company Name:	MBB SE
ISIN:	DE000A0ETBQ4
Reason for the research:	update
Recommendation:	Buy
from:	15.05.2026
Target price:	232.20
Last rating change:
Analyst:	Ralf Marinoni

Q1-26: strong increase of adj. EBITDA

MBB reported strong results for the first quarter and was able to exceed EUR 1bn in equity for the first time. We therefore confirm our Buy recommendation. The price target, which has been lowered to EUR 232.20, reflects in particular the decline in the share price of its flagship holding, Friedrich Vorwerk. Due to its high net cash position, EV multiples are extremely low.



You can download the research here: MBB20260515k
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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2328412 15.05.2026 CET/CEST