PRESS RELEASE
from PEH Wertpapier AG (ETR:PEH)
Original-Research: PEH Wertpapier AG (von Quirin Privatbank Kapitalmarktgeschäft): Buy
Original-Research: PEH Wertpapier AG - from Quirin Privatbank Kapitalmarktgeschäft
08.07.2026 / 11:46 CET/CEST
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The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.
Classification of Quirin Privatbank Kapitalmarktgeschäft to PEH Wertpapier AG
| Company Name: | PEH Wertpapier AG |
| ISIN: | DE0006201403 |
| Reason for the research: | Initial Coverage |
| Recommendation: | Buy |
| from: | 08.07.2026 |
| Target price: | 60.00 |
| Last rating change: | |
| Analyst: | Ralf Marinoni |
Initiation of Coverage: Buy, TP 60.00
PEH Wertpapier AG (“PEH”) is a leading financial services provider in the German-speaking world that is a) independent of banks and insurance companies and b) owner-managed since its foundation in 1989. Another feature is the use of AI in the Asset Management process.
The company was able to increase its gross commission income in the FY 2023-2025 period by 53.9% to EUR 208.8m, while net income after minority interests rose accordingly from EUR 3.5m (2023) to EUR 5.4m in FY 2025.
Assets under Management and Administration across its three segments total EUR 23.5bn: This generates stable, highly predictable cash flows for the company. We therefore initiate coverage with a Buy recommendation and a DCF-based TP of EUR 60.00.
You can download the research here: PEH20260708
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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2362674 08.07.2026 CET/CEST