NuWays Reiterates Buy on Bittium With EUR 46 Price Target

• NuWays reiterated Buy on Bittium with a 12-month price target of EUR 46 in its October 30, 2026 report.
• The firm raised its fiscal 2026 EBIT estimate to EUR 34.7 million from EUR 29.2 million, citing exceptional third-quarter profitability.
• Bittium raised its EBIT guidance to EUR 29-36 million from EUR 26-32 million.
• Third-quarter sales reached EUR 45.8 million, beating consensus by 31%, driven by defense deliveries and Indra license revenue.
• Quarterly EBIT totaled EUR 16.5 million versus consensus of EUR 6.6 million, benefiting from high-margin license income.

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