Berenberg lifted target for K+S stock to EUR 13.00

Published on 10/13/2026 at 10:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue reached EUR 978.30 million, up 12.29 percent year over year. K+S stock costs EUR 13.85 on October 13, 2026 versus EUR 13.91.

Berenberg lifted its K+S price target from EUR 11.40 to EUR 13.00 on September 28, 2026, while keeping a Sell rating.
K+S reported second-quarter 2026 revenue of EUR 978.30 million, up 12.29 percent year over year.
The stock was at EUR 13.85 at Lang & Schwarz on October 13, 2026, 0.43 percent below the Xetra close of EUR 13.91 on October 12, 2026.
K+S expects to publish its third-quarter 2026 report on November 10, 2026, with Qemetica integration scheduled for the first quarter of 2027.

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K+S (DE000KSAG888) was at EUR 13.85 at Lang & Schwarz on October 13, 2026 at 10:05 a.m. CEST, down 0.43 percent versus the Xetra close of EUR 13.91 on October 12, 2026. On September 28, 2026, Berenberg lifted its K+S price target from EUR 11.40 to EUR 13.00 but kept its Sell rating, according to FinanzNachrichten.

Three milestones shape the story

On June 9, 2026, K+S placed EUR 320.00 million of convertible bonds due in 2031, according to K+S. The financing event preceded the company's second-quarter report and its broader salt strategy.

On August 12, 2026, second-quarter revenue reached EUR 978.30 million, up 12.29 percent from EUR 871.20 million in the year-earlier quarter, while operating EBITDA was EUR 176.00 million, according to Investing.com. K+S also raised its 2026 operating EBITDA outlook to EUR 680.00 million to EUR 760.00 million from EUR 680.00 million to EUR 730.00 million.

On September 28, 2026, Berenberg cited higher short-term potash price expectations and the Qemetica salt-business acquisition when it raised the target, while warning that potash supply could rise from 2027 and questioning the operating earnings consensus for 2028, as FinanzNachrichten reported.

What does the target change mean?

The new EUR 13.00 target remains EUR 0.85 below the Lang & Schwarz price of EUR 13.85. That gap matters because the target increase did not change Berenberg's Sell rating, leaving the analyst view cautious despite the stronger second-quarter comparison.

The operating picture is improving but remains tied to commodity pricing. The 2026 EBITDA outlook midpoint is EUR 720.00 million, which is EUR 110.00 million above the 2025 forecast of EUR 610.00 million cited by Investing.com. Investors therefore face a clear split between improved current earnings and supply concerns further ahead.

Two dates will test the outlook

K+S is scheduled to publish its third-quarter 2026 report on November 10, 2026, according to finanzen.net. The Qemetica salt-business acquisition is scheduled to close in the first quarter of 2027, subject to regulatory approval, according to Investing.com. These dates will show whether the higher 2026 outlook is translating into continued operating momentum.

Stock remains below its yearly high

The Lang & Schwarz price of EUR 13.85 stood EUR 0.06 below the October 12 Xetra close and EUR 4.84 below the 52-week high of EUR 18.69. The current market capitalization was EUR 2.5 billion as of October 13, 2026, while the 52-week range was EUR 10.35 to EUR 18.69.

The further course of trading is shown by the continuously updated real-time quote of K+S stock.