ZE PAK stock: ZE PAK signs SMR agreement. Pekao sets PLN 20.50 target for ZE PAK stock

Published on 10/24/2026 at 05:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BM Pekao cut its target to PLN 20.50 on October 15, 2026. ZE PAK stock signed an SMR deal for six 300 MW reactors in Patnow.

Strategic shift and valuation

ZE PAK signed an agreement for six 300 MW reactors on October 15, 2026.
BM Pekao cut its 12-month target from PLN 21.80 to PLN 20.50 on October 15, 2026.
ZE PAK had a PLN 975.8 million market capitalization and a PLN 15.50-22.55 52-week range as of October 23, 2026.

ZE PAK, PLZEPAK00012, Illustration mit AI erstellt.

ZE PAK signed an agreement on October 15, 2026, with SGE for a project involving six small modular reactors with combined capacity of 1,800 MW. The company will hold a minority interest in the venture, according to ZE PAK. The announcement places nuclear development alongside the group's transition away from lignite generation.

Why the nuclear plan matters

The project is long term and capital intensive, while ZE PAK's contribution is expected to include land rights for the joint venture. The company said the venture could ultimately develop six BWRX-300 reactors at the former coal power site, according to MarketScreener.

The strategic ambition contrasts with weaker current operations. In the first half of 2026, revenue fell 11.5 percent year over year to PLN 570.27 million, while the group reported a PLN 53.58 million net loss. The figures were reported by Parkiet from the company's first-half presentation.

What does the target say about risk?

BM Pekao cut its recommendation from Buy to Hold and lowered its 12-month target from PLN 21.80 to PLN 20.50 in a report dated October 15, 2026, according to Bankier.pl. The house cited delays to the gas turbine project, higher gas prices and the costs of winding down coal operations. It also said ZE PAK could remain unprofitable in 2027.

Three dates chart the transition

On September 25, 2026, ZE PAK published first-half figures showing PLN 570.27 million of revenue and a PLN 53.58 million net loss, according to Bankier.pl. On October 2, 2026, the company reported a planned tender offer at PLN 18.00 per share. On October 15, 2026, it reported the SGE agreement for six reactors.

Upcoming reporting date

The next two dated milestones are November 26, 2026, for the third-quarter earnings release listed by MarketScreener, and November 27, 2026, for the next earnings report listed by TradingView.

Valuation meets transition costs

ZE PAK had a market capitalization of PLN 975.8 million and a 52-week range of PLN 15.50 to PLN 22.55 as of October 23, 2026. For investors, the central tension is clear: the SMR plan offers a large long-term project, while the latest half-year figures show the financial cost of the coal exit.

The further course of trading is shown by the continuously updated real-time quote of ZE PAK stock.