12:42 AM EDT, 09/04/2026 (MT Newswires) -- AlphaValue/Baader Europe lowered its Deutsche Boerse (DB1.F) rating and price target, saying the German stock exchange operator is "now fairly valued" following a "strong" rerating. "We thus now see the stock as getting closer to fair valuation territory, having jumped by 40% since its [software-as-a-service apocalypse-induced] lows of February 2026. We continue to see the stock as a compelling quality name and a strong earnings compounder with an attractive growth and distribution profile, although the short-to-medium-term growth prospects look priced in," according to a Thursday note. Accordingly, the stock's rating was downgraded to reduce from add, and the price target was lowered to 280 euros from 322 euros as the research firm revised its model to reflect the company's latest earnings and the updated market scenario. "We see DB1 achieving a c. 11% EBITDA (excluding treasury result) [compound annual growth rate] over the 2024-2028 strategic plan period, slightly below the 12% guidance provided by the management, resulting in a 62% EBITDA margin at the close of 2028, in line with management's target," the note said. Against this backdrop, analysts raised their EPS projections for full-year 2026 and 2027 to 13 euros and 14.2 euros, respectively, from 12.6 euros and 13.8 euros.

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