NuWays initiates Lang & Schwarz with Buy, sets EUR 20 price target
NuWays initiated coverage of Lang & Schwarz with a BUY rating, setting a 12-month target price of EUR 20. Thesis centers on a reset earnings base post-PFOF ban and Trade Republic routing change, not an impaired franchise. NuWays expects Structured Products to drive most group earnings from H2 2026, citing EUR 55 million segment trading result in FY25. Forecasts call for FY27 trading result growth of about 7% and adjusted net profit growth of about 33% versus the prior year. Valuation case cites 7.9x FY27e P/E versus peers at 10.3x, implying about 30% upside to the target price. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. LS — LANG & SCHWARZ AG published the original content used to generate this news brief via EQS News (Ref. ID: rc_27082) on October 14, 2026, and is solely responsible for the information contained therein. (C)
NuWays initiated coverage of Lang & Schwarz with a BUY rating, setting a 12-month target price of EUR 20. Thesis centers on a reset earnings base post-PFOF ban and Trade Republic routing change, not an impaired franchise. NuWays expects Structured Products to drive most group earnings from H2 2026, citing EUR 55 million segment trading result in FY25. Forecasts call for FY27 trading result growth of about 7% and adjusted net profit growth of about 33% versus the prior year.
3x, implying about 30% upside to the target price. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. LS — LANG & SCHWARZ AG published the original content used to generate this news brief via EQS News (Ref.
ID: rc_27082) on October 14, 2026, and is solely responsible for the information contained therein. (C)