Original-Research: Daldrup & Söhne AG (von Quirin Privatbank Kapitalmarktges...

Original-Research: Daldrup & Söhne AG - from Quirin Privatbank

Kapitalmarktgeschäft

23.06.2026 / 11:42 CET/CEST

Dissemination of a Research, transmitted by EQS News - a service of EQS

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invitation to conclude certain stock exchange transactions.

Classification of Quirin Privatbank Kapitalmarktgeschäft to Daldrup & Söhne

AG

Company Name: Daldrup & Söhne AG

ISIN: DE0007830572

Reason for the research: update

Recommendation: Buy

from: 23.06.2026

Target price: 28.80

Last rating change:

Analyst: Ralf Marinoni

Feedback from Capital Markets Day

Last week Daldrup held a CMD in Pullach near Munich where its most important

geothermal project is being carried out. The executives CEO Mr. Tönies and

board member Mr. Karl Daldrup gave a deep dive into the business model. In

addition, a scientist from the Technical University of Munich explained the

potential of geothermal energy. Mr. Mangold, CEO of Innovative Energie für

Pullach GmbH (IEP GmbH) - the client of Daldrup's Pullach project -

discussed the advantages of district heating.

The event concluded with a tour of the drilling rig in Pullach. Overall, all

participants gained an understanding of Daldrup's business model, and

particularly the potential of geothermal energy.

We therefore confirm our Buy recommendation and the EUR 28.80 TP.

You can download the research here:

https://eqs-cockpit.com/c/fncls.ssp?u=ef185ad9b10099567746e94cd2d95f28

For additional information visit our website:

https://research.quirinprivatbank.de/

Contact for questions:

Quirin Privatbank AG

Institutionelles Research

Schillerstraße 20

60313 Frankfurt am Main

research@quirinprivatbank.de

https://research.quirinprivatbank.de/

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