Henrik Paganetty, an analyst from Jefferies, maintained the Buy rating on Jenoptik. The associated price target is €24.00.
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Henrik Paganetty has given his Buy rating due to a combination of factors, starting with Jenoptik’s confirmed audited Q4 results that align with the strong preliminary figures and reinforce confidence in the company’s trajectory. The newly detailed 2026 outlook, calling for single‑digit revenue growth from €1,046m and an EBITDA margin rising to 19–21% from 18.4%, supports a sustained profitability improvement story.
He also notes that this guidance broadly matches market expectations, with consensus looking for about 8% top‑line growth and a roughly 20% EBITDA margin in 2026, suggesting limited downside risk to forecasts. Additionally, the company plans to keep capital expenditure slightly below the prior year’s €77.4m level, which should underpin cash generation, while the refresh of the Supervisory Board with an experienced regional executive adds governance stability ahead of Jenoptik’s appearance at the Jefferies Midcap Conference.
According to TipRanks, Paganetty is a 3-star analyst with an average return of 3.6% and a 48.82% success rate.

