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

Original-Research: MBB SE - from Quirin Privatbank Kapitalmarktgeschäft

23.07.2026 / 10:39 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.

Classification of Quirin Privatbank Kapitalmarktgeschäft to MBB SE

Company Name: MBB SE

ISIN: DE000A0ETBQ4

Reason for the research: update

Recommendation: Buy

from: 23.07.2026

Target price: 245.00

Last rating change:

Analyst: Ralf Marinoni

Increase of FY 2026 adj. EBITDA

According to preliminary figures, MBB had a strong Q2 in the current

business, particularly in terms of the increase in EBITDA. As a result, the

company increased its expectations for adj. EBITDA in FY 2026. Therefore, we

have increased our estimates and confirm our Buy recommendation with a new

EUR 245.00 (EUR 232.20) TP, based on a sum-of-the-parts approach.

You can download the research here:

https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&u=2b7c7b70f5da4977979e1022d826dfcf

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/

The EQS Distribution Services include Regulatory Announcements,

Financial/Corporate News and Press Releases.

View original content:

https://eqs-news.com/?origin_id=3b0573c2-8671-11f1-8534-027f3c38b923&lang=en

2370624 23.07.2026 CET/CEST

°