Montega reiterates Buy on Wuestenrot & W, sets EUR 20 target

Montega reiterated its buy rating on Wuestenrot & Wuerttembergische, with a 12-month target price of EUR 20. The company is planning to move from Prime Standard to Frankfurt's Scale segment on Oct. 6, 2026. The accounting switch from IFRS to HGB is expected to reduce fair-value-driven earnings volatility and improve visibility on underlying profitability. Montega anticipates cost savings to support a proposed dividend increase to EUR 0.75 per share from EUR 0.65, starting in 2027. The downlisting is expected to lead to an SDAX removal, positioning the stock as a value and income play despite