Springer Nature: Tech Event Feedback/Thoughts

研报英文原文证据摘录

Springer Nature: Tech Event Feedback/Thoughts

Deutsche Bank

Research

Rating Company Date

Buy Springer Nature 24 June 2026

Company Update

Europe

Germany

Reuters Bloomberg Exchange Ticker Price at 23 Jun 2026 (EUR) 18.60

SPGG.DE SPG GR GER SPGG

Price Target (EUR) 31.00

Media and Online

52-week range (EUR) 23.50 - 14.92

Publishing

Tech Event Feedback/Thoughts

Valuation & Risks

Steve Liechti

The SPG Technology event on 24 June reinforced our view that the company is

Research Analyst

well placed to use AI and technology tools to enhance academic publishing +44-20-7541-1549

platform efficiency, with limited AI disruption risk in our view. Buy - we see value/

defensive growth in long-term academic publishing (with near-term Open Gareth Davies

Access tailwind) and AI upside. BUY/PT EUR31 (unchanged).

+44-20-754-11560

Global academic research market growth at +3-5% with consistent, steady Annabel Hames

drivers. We see SPG outperforming this given its position in quality publications Research Analyst

such as Nature and strong Open Access positioning. Growth looks higher quality +44-20-754-11574

and better diversified – the scientific research market has evolved from a Western

Price/price relative

economy dominated, low volume, subscription model to a far more diversified

global/international business with broader Open Access distribution (and payment 40

models) and a more balanced regional split (SPG suggests 40% Western/40%) with 30

China in particular producing both volume and high quality research, as well as 20

India. 10

Jan '25 Jul '25 Jan '26

We believe that a broader, more diverse market implies that well established Springer Nature – (Rebased)

academic publishers are more important as researchers need a global trusted