NuWays initiates coverage of SMAG with Buy, sets EUR 47 price target

• NuWays initiated coverage of Smag Mobile Antenna Masts with a BUY rating, setting a 12-month target price of EUR 47.
• Thesis centers on battlefield communications infrastructure demand, citing SMAG’s rapid-deploy, high-payload mobile mast capabilities.
• NuWays highlighted a EUR 1.4 billion order backlog, led by the TaWAN program at EUR 868 million including EUR 758 million options.
• Forecast calls for output to reach EUR 113 million by 2028, lifting adjusted EBIT to EUR 26.6 million with a 23.5% margin.
• Valuation view cites about 75% upside, noting the stock trades about 45% below a peer-implied EUR 49 value.

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. Smag Mobile Antenna Masts AG published the original content used to generate this news brief via EQS News (Ref. ID: rc_26596) on August 20, 2026, and is solely responsible for the information contained therein.