HORNBACH HOLD.ST O.N.

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Original-Research: HORNBACH Holding AG & Co. KGaA - from Quirin Privatbank

Kapitalmarktgeschäft

27.03.2026 / 10:23 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 HORNBACH Holding

AG & Co. KGaA

Company Name: HORNBACH Holding AG & Co. KGaA

ISIN: DE0006083405

Reason for the research: update

Recommendation: Buy

from: 27.03.2026

Target price: 110.00

Last rating change:

Analyst: Ralf Marinoni

HORNBACH has delivered

According to prel. figures, HORNBACH was able to increase sales despite a

challenging market environment - without a boost from consumer sentiment.

Furthermore, market share gains were recorded in every key market for

calendar year 2025. The business model is more than robust; we therefore

confirm our BUY recommendation and the EUR 110.00 TP.

You can download the research here:

https://eqs-cockpit.com/c/fncls.ssp?u=53001206842d5de6f8676a4215a54b9c

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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2299244 27.03.2026 CET/CEST

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