^ Original-Research: Daldrup & Söhne AG - from Quirin Privatbank Kapitalmarktgeschäft

23.06.2026 / 11:42 CET/CEST Dissemination of a Research, transmitted by EQS News - a service of EQS Group. 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.

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Classification of Quirin Privatbank Kapitalmarktgeschäft to Daldrup & Söhne AG

Company Name: Daldrup & Söhne AG ISIN: DE0007830572

Reason for the research: update Recommendation: Buy from: 23.06.2026 Target price: 28.80 Last rating change: Analyst: Ralf Marinoni

Feedback from Capital Markets Day

Last week Daldrup held a CMD in Pullach near Munich where its most important geothermal project is being carried out. The executives CEO Mr. Tönies and board member Mr. Karl Daldrup gave a deep dive into the business model. In addition, a scientist from the Technical University of Munich explained the potential of geothermal energy. Mr. Mangold, CEO of Innovative Energie für Pullach GmbH (IEP GmbH) - the client of Daldrup's Pullach project - discussed the advantages of district heating. The event concluded with a tour of the drilling rig in Pullach. Overall, all participants gained an understanding of Daldrup's business model, and particularly the potential of geothermal energy. We therefore confirm our Buy recommendation and the EUR 28.80 TP.

You can download the research here: https://eqs-cockpit.com/c/fncls.ssp?u=ef185ad9b10099567746e94cd2d95f28 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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2352054 23.06.2026 CET/CEST

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Quelle: dpa-Afx