First Berlin Equity Research has published a research update on MPH Health Care AG (ISIN: DE000A289V03). Analyst Ellis Acklin reiterated his BUY rating and maintained his EUR 37.00 price target.

Abstract
As expected, MPH’s 2025 prelims were largely shaped by the one-time write-down of the CR Energy stake, after the company shut down operations and filed for insolvency last year. However, business at M1 Kliniken AG continues to be good. The lifestyle & beauty specialist reported a strong set of preliminary 2025 results showing 29% Y/Y EBIT growth to €35m. This performance was underpinned by Beauty segment sales that topped €100m for the first time. Prospects for continued growth look excellent, and M1’s equity story has been sharpened by the successful Haemato disposal. We stick to our Buy rating and €37 TP (upside: 75%).