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Montega reiterates Buy on Smartbroker, cuts price target to EUR 17

PUBT·07/10/2026 11:36:45
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Montega reiterates Buy on Smartbroker, cuts price target to EUR 17
  • Montega kept a Buy rating on Smartbroker, cutting its 12-month price target to EUR 17 from EUR 18.
  • Trade Republic’s post-PFOF shift to internal order matching triggered sector volatility; Smartbroker shares fell about 17% since July 2.
  • Montega lowered its 2026 net new client forecast to 85,000 from 100,000, citing weak run-rate growth and tougher competition.
  • Trading activity improved to about 760,000 trades per month in 2026 versus roughly 550,000 a year earlier.
  • Montega flagged valuation upside, citing an implied EUR 630 per active customer versus about EUR 1,000 at listed peers.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Smartbroker Holding AG published the original content used to generate this news brief via EQS News (Ref. ID: rc_26146) on July 10, 2026, and is solely responsible for the information contained therein.