Secunet stock gains 3.75 percent as Berenberg keeps Buy rating

Published on 09/25/2026 at 15:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Berenberg kept its Buy rating and set a EUR 254 target on September 25, 2026. First-half revenue rose 19 percent to EUR 205 million, while EBIT margin was 4.2 percent.

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Secunet (ISIN DE0007276503) was trading at EUR 235.00 on Xetra on September 25, 2026, at 1:54 p.m. CEST, up 3.75 percent from the prior close. finanzen.ch reported on September 25, 2026, that Berenberg kept its Buy rating and EUR 254 price target.

Berenberg keeps EUR 254 target

The target is EUR 19.00 above the Xetra price, equivalent to 8.09 percent above the intraday level. Berenberg analyst Chris Armstrong described Secunet as a beneficiary of several positive influences in a strategy study published on September 24, 2026, according to finanzen.ch.

Warburg Research also maintained a Buy rating and a EUR 260 target on September 24, 2026, according to finanzen.ch. The report said analyst Christian Cohrs viewed speculation about a possible Bundeswehr contract cautiously, while a longer-term agreement would be positive for Secunet.

Revenue rises 19 percent

Secunet generated EUR 205 million in group revenue during the first half of 2026, an increase of 19 percent, while EBIT margin reached 4.2 percent, NZZ reported on September 21, 2026. Order intake reached EUR 287 million, up 79 percent year over year, and the order book stood at EUR 361 million at the end of June.

Public-sector customers accounted for 94 percent of first-half revenue, highlighting Secunet's exposure to government and critical-infrastructure spending. The company guided for 2026 revenue of EUR 460 million to EUR 500 million and EBIT of EUR 53 million to EUR 58 million, with the CEO expecting revenue at the upper end of the range, according to NZZ.

Next report comes November 12

Secunet's investor-relations calendar lists November 12, 2026, for the group quarterly communication covering the period ending September 30, 2026, while the half-year report was published on August 13, 2026, according to the company's investor-relations page. That date is the next scheduled checkpoint for whether order momentum is translating into stronger profitability.

Stock trades below yearly high

Secunet was trading at EUR 235.00 on Xetra on September 25, 2026, at 1:54 p.m. CEST. Its 52-week range was EUR 152.80 to EUR 255.00, placing the stock 7.84 percent below the yearly high.