Equita cuts target for Azimut stock to EUR 39.00

Published on 10/19/2026 at 09:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Equita cited cautious fee estimates on October 9, 2026. Azimut stock costs EUR 34.64, 0.57 percent below the EUR 34.84 Xetra close.

International assets drive the story

Azimut agreed to acquire the remaining 49 percent of Kennedy Capital Management on September 21, 2026.
First-half 2026 revenue reached EUR 781.0 million, while EBIT was EUR 354.0 million against EUR 340.0 million expected.
Azimut stock trades at EUR 34.64 at 9:19 a.m. CEST at Lang & Schwarz on October 19, 2026, 0.57 percent below the Xetra close of October 16, 2026.
Equita Sim cut its target to EUR 39.00 and kept a Hold rating on October 9, 2026.

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Azimut (ISIN IT0003261697) was trading at EUR 34.64 at Lang & Schwarz on October 19, 2026 at 9:19 a.m. CEST, down 0.57 percent versus the Xetra close of October 16, 2026 at EUR 34.84. On October 9, 2026, Equita Sim cut its price target to EUR 39.00 and kept a Hold rating, according to MilanoFinanza.

What does 49 percent ownership add?

Azimut's international expansion provides the clearest operating context. The group agreed on September 21, 2026 to acquire the remaining 49 percent of Kennedy Capital Management, taking ownership to 100 percent, according to MarketScreener. Assets managed by Azimut NSI rose from USD 18.30 billion at the start of 2026 to more than USD 20.00 billion, giving the transaction a measurable platform for US growth.

Three dates show the progression

The chronology starts with Azimut's first-half results on July 30, 2026. Revenue was EUR 781.0 million and EBIT was EUR 354.0 million, versus EUR 759.0 million and EUR 340.0 million in the corresponding estimates, according to MarketScreener. On September 21, 2026, the Kennedy transaction raised Azimut's stake from 51 percent to 100 percent. On October 9, 2026, Equita Sim reduced its target by 4 percent to EUR 39.00 and lowered its 2026 to 2028 earnings-per-share forecasts by an average of 7 percent, according to MilanoFinanza.

Next report comes November 5

The next scheduled company date is November 5, 2026, when Azimut is due to publish third-quarter results, according to MarketScreener. That report will test whether the first-half revenue base and the international expansion can offset the more cautious fee assumptions behind Equita's target cut.

Stock remains below the target

At EUR 34.64, the Equita target of EUR 39.00 stands 12.59 percent above the Lang & Schwarz price. The quote was trading at EUR 34.64 at Lang & Schwarz on October 19, 2026 at 9:19 a.m. CEST, 0.57 percent below the Xetra close of October 16, 2026 at EUR 34.84. The further course of trading is shown by the continuously updated real-time quote of Azimut stock.