Märkte & Kurse

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Original-Research: init innovation in traffic systems SE - from Quirin
Privatbank Kapitalmarktgeschäft

24.03.2026 / 10:36 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 init innovation
in traffic systems SE

     Company Name:               init innovation in traffic systems SE
     ISIN:                       DE0005759807

     Reason for the research:    update
     Recommendation:             Buy
     from:                       24.03.2026
     Target price:               68.00
     Last rating change:
     Analyst:                    Ralf Marinoni

init SE: A real hidden champion

In the 2025 fiscal year, init achieved an EBIT increase of 32.5% to EUR
32.5m. The company has become the global market leader in telematics
solutions for public transportation. A true hidden champion!
The current weakness in the stock price-due to a weak stock market
environment-should be used as an opportunity to buy more shares. We confirm
our Buy recommendation and raise the TP from EUR 60.00 to EUR 68.00 based on
higher peer group multiples and a DCF valuation.



You can download the research here:
https://eqs-cockpit.com/c/fncls.ssp?u=73d6287f502b7d76e1efb99c3ca1376e
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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2296704 24.03.2026 CET/CEST

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