GBC AG sets MustGrow Biologics price target at CAD 2.51, keeps Buy rating

• GBC AG reiterated a Buy on MustGrow Biologics, cutting its target price to CAD 2.51 from CAD 2.70.
• Report cited a first Bayer development milestone, generating CAD 1.36 million of high-margin license revenue in H1 2026.
• TerraSante sales hit about CAD 830,400 by mid-August, up 46% versus full-year 2025, constrained by production ramp delays.
• FY2026 revenue forecast cut to CAD 3.5 million from CAD 4.5 million; EBITDA seen at CAD -4.58 million.
• GBC kept FY2027 revenue at CAD 14.05 million, FY2028 at CAD 31.56 million; EBITDA forecast at CAD -1.08 million, then CAD 8.46 million.

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. MustGrow Biologics Corp. published the original content used to generate this news brief via EQS News (Ref. ID: rc_26892) on September 28, 2026, and is solely responsible for the information contained therein.