Sphene Capital Cuts Surteco Price Target to EUR 19.30 From EUR 20.80

• Sphene Capital cut Surteco's 24-month price target to EUR 19.30 from EUR 20.80 in a Nov. 2, 2026, report.
• The firm retained its Buy rating as nine-month 2026 results met expectations.
• Adjusted EBITDA rose despite lower revenue, but higher restructuring costs, depreciation and interest expenses weighed on earnings.
• Management reaffirmed full-year revenue guidance of EUR 790 million–EUR 820 million, with adjusted EBITDA of EUR 80 million–EUR 90 million.
• A substantial working capital buildup reduced cash holdings, pushing net financial debt above its year-end 2025 level.

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. Surteco Group SE published the original content used to generate this news brief via EQS News (Ref. ID: rc_27256) on November 02, 2026, and is solely responsible for the information contained therein.