First Berlin Updates Target for MPH Health Care AG

First Berlin Equity Research GmbH has released an updated research on MPH Health Care AG. Analyst Ellis Acklin reaffirmed a BUY recommendation, raising the target price from €37 to €40. The six-month report offered insights into the reduced M1 Kliniken group’s earnings potential. Beauty segment revenue rose 11% year-over-year to €56.9 million, with EBIT climbing 24% to €18.6 million. The margin increased to 32.7%, above the 20% target.

Adjusted EBIT was €19.7 million, up 9.5% despite lower revenues, after accounting for a €4.1 million non-cash impact from the Haemato sale. MPH's net asset value (NAV) increased 2% to €248 million in the first half of the year. M1 shares are near all-time highs, indicating potential for more NAV growth in the second half. The target price reflects the improved beauty business performance, providing a forecasted 53% upside.