Original-Research: Vossloh AG (von Quirin Privatbank Kapitalmarktgeschäft): Buy

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Original-Research: Vossloh AG - from Quirin Privatbank Kapitalmarktgeschäft

07.07.2025 / 17:45 CET/CEST

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Classification of Quirin Privatbank Kapitalmarktgeschäft to Vossloh AG

Company Name: Vossloh AG

ISIN: DE0007667107

Reason for the research: Update

Recommendation: Buy

from: 07.07.2025

Target price: 102

Last rating change:

Analyst: Daniel Kukalj, CIIA,CEFA

Driving Infrastructure Growth

Following a change of analyst, we are raising our price target to EUR 102,

applied by our ROE/COE valuation approach, and reiterate our Buy rating. The

management has clearly defined the targets for the current financial year

(based on the current group structure, Sales revenues of between EUR

1,250-1,325m; EBIT of between EUR 110-120m) and the consolidation of the

Sateba acquisition is only a matter of time. The last time the company

surpassed the EUR 100m EBIT/Operating result mark, the stock followed with a

strong upward trend, climbing over EUR 90. This price movement highlighted

the close correlation between operating profitability and market valuation.

Investors rewarded the company's sustained earnings momentum and strong

order intake with a significant re-rating of the stock. If Vossloh manages

to cross this milestone again on a sustainable basis - as it forecasts for

FY 2025 in EBIT - it could send a similar signal to the market and unlock

further upside potential. Amid growing public focus on planned

infrastructure investments in Germany, Vossloh shares have seen a

significant uptick in trading volume. This has led to improved liquidity -

despite the continued influence of a major shareholder. A potential

technical catalyst: if the share price exceeds EUR 103.70, Vossloh's free

float market capitalization would surpass EUR 1bn. This could trigger

additional momentum, potentially through heightened interest from

institutional investors. The company benefits from global infrastructure

investment tailwinds and increased rail spending driven by sustainability

goals. With robust fundamentals, technological edge, and shareholder

returns, Vossloh offers an attractive mid-cap industrial growth story. We

recommend to Buy.

You can download the research here:

https://eqs-cockpit.com/c/fncls.ssp?u=e2bc0fcb56580f5dd1fc958593166a02

For additional information visit our website:

https://research.quirinprivatbank.de/

Contact for questions:

Quirin Privatbank AG

Institutionelles Research

Schillerstraße 20

60313 Frankfurt am Main

research@quirinprivatbank.de

https://research.quirinprivatbank.de/

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2166374 07.07.2025 CET/CEST

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