NuWays Maintains Buy on Emerald Horizon, EUR 1,300 Price Target Unchanged

• NuWays maintained its Buy rating on Emerald Horizon with an unchanged 12-month price target of EUR 1,300 on November 11, 2026.
• The planned EUR 135 million equity raise involves up to five capital increases by the third quarter of 2028.
• Gross funding needs total approximately EUR 225 million through 2030, before potential grants, exceeding NuWays’ previous EUR 72 million equity assumption.
• A clearer equity financing plan could improve prospects for European Investment Bank funding, though eligibility for comparable support remains unestablished.
• NuWays sees negligible valuation impact from the equity program, while execution, financing and regulatory risks remain material.

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. Emerald Horizon AG published the original content used to generate this news brief via EQS News (Ref. ID: rc_27422) on November 11, 2026, and is solely responsible for the information contained therein.