Vonovia stock slips after Goldman cuts its target
Published on 09/19/2026 at 12:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Vonovia stock (DE000A1ML7J1) closed at EUR 17.70 on Xetra on September 18, 2026, down 1.56 percent from the prior session. The shares traded at EUR 17.98 on September 17, 2026 and sat only a little above their 52-week low in recent trading, with market capitalization shown at about EUR 23.0 billion.
Goldman target cut bites
As ad hoc news reported on September 18, 2026, Goldman Sachs analyst Jonathan Kownator cut Vonovia from Buy to Neutral and reduced the price target to EUR 21.20 from EUR 29.50. The move marked a reduction of EUR 8.30, or more than 28 percent, in the target price.
The same report said Vonovia is under pressure from cash flow and a difficult German residential property market. That matters because the stock was still quoted at EUR 17.98 on September 17, 2026, leaving the new Goldman target only 17.9 percent above that level.
Half-year numbers stay mixed
According to ad hoc news, Vonovia reported adjusted EBITDA of EUR 1.46 billion in the first half of 2026, up 2.4 percent year on year. The same period brought earnings per share of EUR 0.91, down 7.7 percent from the prior-year period, while operating free cash flow fell 45.4 percent to EUR 607.5 million, as also reported by Trading Treff on September 19, 2026.
Trading Treff added that Vonovia confirmed its adjusted EBITDA guidance for 2026 at EUR 2.95 billion to EUR 3.05 billion. For investors, the split between rising EBITDA and weaker cash flow is the key tension in the stock.
Stock near yearly low
Vonovia shares were also described as only slightly above the 52-week low of EUR 17.55 in recent trading, while the stock was said to be down 27.91 percent year to date in one market report published on September 19, 2026. The combination of a lower target price, a EUR 1.46 billion half-year EBITDA figure and a EUR 607.5 million cash flow number keeps the story centered on valuation and financing pressure.
Vonovia stock data
- Company: Vonovia SE
- ISIN: DE000A1ML7J1
- Ticker: VNA
- Trading venue: Xetra
- Price (as of September 18, 2026, 17:38): EUR 17.70
- Market capitalization: EUR 23.0 billion (as of September 17, 2026)
- Sector / Industry: Real Estate / Residential REIT-like landlord
- Index membership: DAX
Price and market view
Vonovia stock ended September 18, 2026 at EUR 17.70 on Xetra. The price was below the EUR 21.20 Goldman target and close to the lower end of its recent trading range, with the market still balancing valuation support against weaker cash generation.
