Jefferies raises SMA Solar target to EUR 90. SMA Solar stock gains 1.99 percent

Published on 10/21/2026 at 11:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half profit reached EUR 72.80 million. SMA Solar stock costs EUR 52.73 on October 21, 2026, plus 1.99 percent versus Xetra close.

Target raised before November results

Jefferies lifted its SMA Solar target from EUR 89.00 to EUR 90.00 on October 14, 2026.
First-half 2026 net profit reached EUR 72.80 million after a EUR 42.40 million loss.
SMA Solar stock trades at EUR 52.73 at 10:49 a.m. CEST at Lang & Schwarz on October 21, 2026, 1.99 percent above the Xetra close of October 20, 2026.
SMA Solar is scheduled to publish its January to September 2026 quarterly report on November 12, 2026.

Isometrische Grafik der Solar-Wertschöpfungskette von Silizium bis Hausdach — SMA Solar Technology DE000A0DJ6J9 illustriert die Wertschöpfungskette der Solarenergie in isometrischer 3D-Grafik, Illustration mit AI erstellt.

SMA Solar (ISIN DE000A0DJ6J9) was trading at EUR 52.73 at Lang & Schwarz on October 21, 2026, at 10:49 a.m. CEST, 1.99 percent above the Xetra close of October 20, 2026 (EUR 51.70). On October 14, Jefferies raised its target from EUR 89.00 to EUR 90.00 and kept a Buy rating, as reported by Goldesel.

Profit recovery meets price pressure

The analyst upgrade arrived after a sharp retreat in the stock. Goldesel reported that SMA Solar traded at EUR 51.90 during early trading on October 20, 2026, down 6.57 percent on that session, while the 200-day line stood at EUR 50.50.

The operating picture is improving, but the quality of the recovery matters. According to FNE, first-half 2026 revenue reached EUR 686.60 million versus EUR 684.90 million a year earlier, while EBITDA before one-off items rose to EUR 65.90 million from EUR 50.30 million.

Three dates define the recovery

On July 16, 2026, SMA Solar raised its full-year 2026 outlook to revenue of EUR 1,625.00 million to EUR 1,725.00 million and EBITDA of EUR 180.00 million to EUR 230.00 million, according to FNE. On August 13, 2026, first-half net profit reached EUR 72.80 million after a EUR 42.40 million loss in the prior-year period, also reported by FNE. On October 14, 2026, Jefferies lifted its target from EUR 89.00 to EUR 90.00, as reported by Goldesel.

What does the target mean for margins?

The answer lies in the gap between earnings recovery and pricing power. FNE reported that the Large Scale and Project Solutions margin fell from 19.90 percent to 14.40 percent in the first half of 2026, even as the order backlog rose to EUR 1,754.40 million from EUR 1,161.40 million. That combination gives the November report a clear test: order conversion must improve without another margin squeeze.

Next reporting date

SMA Solar is scheduled to publish its quarterly report for January to September 2026 on November 12, 2026, together with an analyst conference call, according to the company's SMA Solar investor-relations page.

Price remains below the yearly high

The euro quotation sits inside a 52-week range of EUR 21.68 to EUR 70.70, with a market capitalization of EUR 1.8 billion as of October 21, 2026. The distance from the current price to the upper end of that range keeps the analyst target and the next earnings report relevant market reference points.

SMA Solar was trading at EUR 52.73 at Lang & Schwarz on October 21, 2026 at 10:49 a.m. CEST, 1.99 percent above the Xetra close of October 20, 2026 at EUR 51.70. The further course of trading is shown by the continuously updated real-time quote of SMA Solar stock.