Energiekontor AG: Updated Buy Recommendation with Adjusted Target Price

First Berlin Equity Research GmbH has released an update on Energiekontor AG, maintaining a "Buy" recommendation. The target price has been revised down from EUR 79 to EUR 66. Analyst Dr. Karsten von Blumenthal notes the company's 2025 pre-tax profit of €40.5 million surpassed expectations by 33%. Despite lowered projections for 2026, with pre-tax profits expected between €40 million and €60 million, Energiekontor maintains its 2028 target of €120 million, albeit with caution due to regulatory and market uncertainties.

The company plans to double its dividend to €1.00, reflecting a net profit nearly twice that of 2024. Downward revisions of future forecasts stem from regulatory challenges in key markets like the UK and Germany. A new valuation accounts for reduced forecasts and higher interest rates, establishing the EUR 66 target price. Despite these challenges, Energiekontor remains agile and focused on profitable markets, positioning itself as a likely winner in market consolidation.