Kontron announced two further orders in July. In Transportation, the company recently extended an existing rail maintenance and security framework agreement until 2035, adding close to EUR 100m of long-duration order visibility. Separately, Kontron won a new European automotive customer for 150,000 5G NAD modules, with potential to more than triple if rolled out to further platforms. Together, the announcements show solid commercial traction in key strategic areas: European rail communication and secure 5G connectivity. We slightly raise forecasts from 2027E onwards and update our share count reflecting the company’s buybacks. We raise our DCF-derived price target to EUR 35.00 (from EUR 34.00). BUY. The full update can be downloaded under https://research-hub.de/companies/kontron-ag

For Q3 2025/26, we expect broadly stable sequential sales of c. EUR 24m and an EBITDA margin of 7–8%, with Adhesives and Disinfection again offsetting persistent weakness in Curing. Positive electronics orders in Asia, water-treatment demand, a better mix and lower material costs should support profitability, while printing-related demand and competitive pressure are likely to keep Curing subdued into Q4. We now model FY revenues slightly below the EUR 95m guidance floor but still see the lower end of the EUR 6–9m EBITDA range as achievable. Reflecting the softer top-line outlook, we cut our price target to EUR 18.00 from EUR 20.00, but reiterate BUY given improving earnings quality and the medium-term potential of Adhesives and Disinfection. The full update can be downloaded under https://research-hub.de/companies/hoenle-ag

Company Name: Zefiro Methane Corp. ISIN: CA98926D1069   Reason for the research: Research Report (Initial Coverage) Recommendation: BUY Target price: 1.50 USD Target price on sight of: 31.12.2027 Last rating change: Analyst: Cosmin Filker, Matthias Greiffenberger You can download the research here: 20260721_Zefiro_IC_engl Cont [ … ]

BaFin has opened a for cause examination of Jungheinrich's H1 2025 financial statements, questioning the valuation of rental equipment and inventories tied to the planned Russia disposal and, specifically, whether the related impairment should have been booked at 30 June 2025 (H1) rather than in July (H2). We see this as a timing question inside FY2025 with no impact on full year 2025 or 2026 earnings, and any negative share price reaction would look disproportionate to a fundamentally immaterial issue. With the stock near its 52-week low and trading well below both our DCF based (64% upside) and multiples based fair values (> 100% upside), we view the weakness as a reinforced entry opportunity and reiterate BUY with a target price of EUR 41.00. The full update can be downloaded under https://research-hub.de/companies/jungheinrich-ag

MHP reported record Q2 revenue and growth of 26% yoy (with F&B up 41% yoy), driven by the full contribution of the Hyatt Regency Vienna and the ramp-up of the Conrad Hamburg. Group occupancy dipped by 1 PP yoy due to the new Conrad Hamburg opening (reaching a record 82% ex-Conrad), while ADR declined 4% yoy and RevPAR dropped 5% yoy, reflecting portfolio mix effects and lower high-value Middle Eastern visitor numbers amid geopolitical friction. Management reiterated its FY26 guidance of EUR 225m in revenue and at least EUR 10m in EBITDA, supported by business picking up in May and June after a softer April. Backed by strong positioning in the luxury segment and highly attractive valuation metrics (2027 EV/EBITDA of 3.5x; 2028 EV/EBITDA of 2.5x), we confirm our BUY rating with a price target of EUR 3.00. The full update can be downloaded under https://research-hub.de/companies/mhp-hotel-ag

Daimler Truck CEO Karin Rådström expects Chinese electric-truck manufacturers to expand into Europe, reinforcing a structural risk we have highlighted for some time. European OEMs retain important advantages through strong brands, established customer relationships and extensive service networks. However, defending their position could require lower prices, higher discounts or additional incentives, putting pressure on profitability. This is particularly concerning given the structurally higher labour, energy and manufacturing costs of European producers. The passenger-car industry provides a clear warning of how Chinese competition can reshape sector economics without immediately displacing incumbents. With freight operators increasingly focused on total cost of ownership after years of economic and geopolitical pressure, lower-priced alternatives may gain traction. We maintain our SELL rating and EUR 30.00 price target. The full update can be downloaded under https://research-hub.de/companies/daimler-truck-holding-ag

Company Name: CEL-SCI Corporation ISIN: US1508376076   Reason for the research: Update Recommendation: Buy from: 20.07.2026 Target price: 15.00 Target price on sight of: 12 months Last rating change: Analyst: Christian Orquera First Berlin Equity Research has published a research update on CEL-SCI Corporation (ISIN: US150837607 [ … ]

Company Name: Marinomed Biotech AG ISIN: ATMARINOMED6   Reason for the research: Update Recommendation: Under Review from: 20.07.2026 Target price: Under Review Target price on sight of: n.a. Last rating change: 20.07.2026, Formerly Buy Analyst: Alexander Rihane First Berlin Equity Research hat ein Research Update zu Marinomed B [ … ]

Company Name: Marinomed Biotech AG ISIN: ATMARINOMED6   Reason for the research: Update Recommendation: Under Review from: 20.07.2026 Target price: Under Review Target price on sight of: n.a. Last rating change: 20.07.2026, Formerly Buy Analyst: Alexander Rihane First Berlin Equity Research hat ein Research Update zu Marinomed B [ … ]

Company Name: Almonty Industries Inc. ISIN: CA0203987072   Reason for the research: Update Report Recommendation: Buy from: 20.07.2026 Target price: CAD 38.90 (previously: CAD 37.40) Target price on sight of: 36 months Last rating change: - Analyst: Peter Thilo Hasler The contract amendment took place immediately after the Sang [ … ]