First Berlin lifts PNE to buy, cuts price target to EUR 10

• First Berlin upgraded PNE to Buy on Aug. 19, cutting its target price to EUR 10 from EUR 12.
• Call followed a sharp selloff triggered by indications potential buyers’ price expectations sat below the EUR 9.89 Aug. 10 share price.
• First Berlin flagged weaker German onshore wind auction premiums, a tougher regulatory outlook, rising financing costs as margin headwinds.
• H1 AEBITDA rose to EUR 27.4 million from EUR 4.7 million; the firm noted guidance for 2026 was reaffirmed.
• Sum-of-the-parts valuation reset drove the lower target; First Berlin cited 38% upside from the post-drop 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. PNE AG published the original content used to generate this news brief via EQS News (Ref. ID: rc_26582) on August 19, 2026, and is solely responsible for the information contained therein.