QNA Technology S.A. (QNA) Buy Reiterated; PLN 51 Target Kept

QNA Technology S.A. (QNA) Buy Reiterated; PLN 51 Target Kept

First Berlin reiterated Buy on QNA Technology S.A., keeping a PLN 51 price target after H1 results roughly in line and opex up 26% y/y to PLN 6.2M.

This is a mid-cycle check-in: estimates held, with a maintained DCF-based target after in-line H1 and higher costs. A signed JV/JDA or tangible non-display deal would be the next trigger to validate growth optionality and the target.

Based on the original press release from QNA Technology S.A. distributed by EQS.