First Berlin Reaffirms Buy Recommendation for SFC Energy AG

First Berlin Equity Research has updated its analysis on SFC Energy AG, maintaining a "Buy" recommendation with a target price of €31. This reflects a potential upside of 72% over the next 12 months. Analyst Dr. Karsten von Blumenthal cited strong third-quarter results as a key factor, driven by the high-margin defense segment, notably deliveries related to a Ukraine contract.

The company has revised its 2026 earnings forecast upward after outperforming expectations in the first nine months. The business continues its robust growth trajectory with significant margin expansion. The investment thesis remains strong, with the updated DCF model supporting the unchanged target price.