Original-Research: HORNBACH Holding AG & Co. KGaA (von Quirin Privatbank Kapitalmarktgeschäft): Buy

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:	22.09.2026
Target price:	110.00
Last rating change:
Analyst:	Ralf Marinoni

New store openings ahead

Hornbach Holding will open several new locations in spring 2027 in Germany and Europe, thereof six from former competitor Hellweg. This represents significant additional revenue potential as well as growing market share. In combination with the expansion already planned in existing countries and Serbia, Hornbach Holding is thus approaching the 200-store mark for its DIY megastores in the coming years. We therefore confirm our Buy recommendation and the EUR 110 TP.

You can download the research here: HORNBACH20260922
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/