Berenberg raises target for K+S stock from EUR 11.40 to EUR 13.00

Published on 10/06/2026 at 17:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

K+S stock costs EUR 15.23 on October 6, 2026 after EUR 15.00, plus 1.53 percent. Second-quarter revenue rose 12.30 percent to EUR 978.30 million.

Redaktionelles Börsenfoto des Frankfurter Parketts mit Händlern und Kali-Rohstoffkursen auf Großschirmen — K+S AG MDAX-Börse DE000KSAG888 als Editorial-Foto vom Frankfurter Handelsparkett mit Rohstoff-Kurscharts und Händlern, Illustration mit AI erstellt.

K+S stock stood at EUR 15.23 on Xetra on October 6, 2026 at 2:51 p.m. CEST, up 1.53 percent from the EUR 15.00 prior close. The latest analyst move is cautious: according to FinanzNachrichten, Berenberg raised its K+S target from EUR 11.40 to EUR 13.00 on September 28, 2026, but kept its Sell rating.

Berenberg sees limited upside

The revised target remains EUR 2.23 below the Xetra price, equivalent to 17.15 percent below the price. Berenberg analyst Sebastian Bray linked the change to higher near-term potash price expectations and K+S's acquisition of Qemetica's salt business, while pointing to higher potash supply from 2027 and doubts about the operating earnings consensus for 2028.

The disagreement matters because the target increase did not change the rating. For investors, the key issue is whether near-term pricing strength can offset the expected supply pressure that Berenberg sees further ahead.

Second-quarter figures set the benchmark

Investing.com reported on September 14, 2026 that K+S revenue rose 12.30 percent year over year to EUR 978.30 million in the second quarter of 2026. Operating EBITDA increased 60.00 percent to EUR 176.00 million in the same period, according to the report.

K+S raised its operating EBITDA forecast for fiscal 2026 to EUR 680.00 million-760.00 million in its H1 2026 update. That range gives the market a concrete test for the second half of the year, especially as the current debate centers on whether stronger pricing can persist into 2027.

Stock remains above the revised target

The EUR 15.23 Xetra price is 17.15 percent above Berenberg's new EUR 13.00 target, so the market valuation still assumes more than the bearish analyst case. K+S is also part of the MDAX, and its business spans agricultural fertilizers, industrial minerals and salt products.

Price and investor perspective

The substitute price was EUR 15.23 on Xetra on October 6, 2026 at 2:51 p.m. CEST, versus the Xetra close of EUR 15.00 on October 5, 2026. The price source is: substitute price Xetra, Lang & Schwarz without data set.