Montega raises HMS Bergbau price target to EUR 89, reiterates buy rating

• Montega reiterated a Buy rating on HMS Bergbau, lifting its 12-month target price to EUR 89 from EUR 85.
• Report cited an upsized 10.0% corporate bond 2025/2030, adding EUR 25 million to take outstanding volume to EUR 95 million.
• Proceeds seen funding trading growth, with emphasis on liquid fuels expansion, coal and chrome ore pre-financing for long-term volumes.
• Forecasts raised on expected higher trading volumes; annual interest expense projected to rise by about EUR 2.5 million from 2027.
• Analyst expects incremental operating profit to outweigh higher financing costs, supporting the higher valuation.

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. HMS Bergbau AG published the original content used to generate this news brief via EQS News (Ref. ID: rc_26150) on July 13, 2026, and is solely responsible for the information contained therein.