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Recommendations and Price Targets
Recommendations
Negative: 1, Neutral: 6, Positive: 16 (Total: 23)
-1
+10.65
BrokerPrice Targets (in EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
AB Bernstein 82.00 85.00 -3.5% 27.8% Outperform Outperform Unchanged 2017-12-05 
Bankhaus Lampe 85.00 85.00 0.0% 32.4% Buy Buy Unchanged 2017-10-23 
Berenberg Bank 89.10 89.10 0.0% 38.8% Buy Buy Unchanged 2017-11-13 
BoA Merrill Lynch 75.00 83.00 -9.6% 16.9% Neutral Buy Downgrade 2017-11-06 
Bryan, Garnier & Co 87.00 87.00 0.0% 35.6% Buy Buy Unchanged 2017-12-01 
Citigroup 83.00 83.00 0.0% 29.3% Buy Buy Unchanged 2017-11-30 
Commerzbank 85.00 85.00 0.0% 32.4% Buy Buy Unchanged 2017-11-06 
Credit Suisse 2017-11-06 
Deutsche Bank 83.00 84.00 -1.2% 29.3% Buy Buy Unchanged 2017-11-03 
DZ Bank 82.00 82.00 0.0% 27.8% Buy Buy Unchanged 2017-10-20 
Exane BNP Paribas 78.00 78.00 0.0% 21.5% Outperform Outperform Unchanged 2017-11-02 
Goldman Sachs 74.50 74.50 0.0% 16.1% Neutral Neutral Unchanged 2017-11-30 
HSBC 70.00 9.1% Hold 2017-11-22 
Independent Research 91.00 91.00 0.0% 41.8% Buy Buy Unchanged 2017-02-23 
J.P. Morgan Cazenove 2017-02-22 
Kepler Cheuvreux 63.00 77.00 -18.2% -1.8% Hold Hold Unchanged 2017-11-28 
LBBW 82.00 87.00 -5.7% 27.8% Buy Buy Unchanged 2017-10-19 
MainFirst Bank 70.00 85.00 -17.6% 9.1% Neutral Outperform Downgrade 2017-11-13 
Morgan Stanley 77.00 83.00 -7.2% 20.0% Overweight Overweight Unchanged 2017-12-08 
NordLB 92.00 92.00 0.0% 43.3% Buy Buy Unchanged 2017-11-02 
Oddo BHF 82.00 82.00 0.0% 27.8% Buy Buy Unchanged 2017-11-03 
Redburn 87.00 92.00 -5.4% 35.6% Buy Buy Unchanged 2017-11-03 
Société Générale 95.00 100.00 -5.0% 48.0% Buy Buy Unchanged 2017-11-08 
UBS 57.00 74.00 -23.0% -11.2% Sell Neutral Downgrade 2017-11-17 
Warburg Research 78.00 73.40 6.3% 21.5% Hold Hold Unchanged 2017-10-30 
 CurrentPreviousChangeUpside/DownsideRecommendationsCurrentChanges 
Price (in EUR)  (as of last trading day) 64.18       Number of Analysts 23     
Number of Analysts 23 22     - thereof positive 16 Upgraded: 0 Analysts 
- Highest 95.00 100.00 -5.0% 48.0% - in % 69.6%     
- Consensus 80.33 84.18 -4.6% 25.2% - thereof neutral Unchanged: 19 Analysts 
- Median 82.00 84.50 -3.0% 27.8% - in % 26.1%     
- Lowest 57.00 73.40 -22.3% -11.2% - thereof negative Downgraded: 3 Analysts 
          - in % 4.3%     
Last update on 13/12/2017
The earnings estimates of the following institutions were included in the above figures:
AB Bernstein, Bankhaus Lampe, Berenberg Bank, BoA Merrill Lynch, Bryan, Garnier & Co, Citigroup, Commerzbank, Credit Suisse, Deutsche Bank, DZ Bank, Exane BNP Paribas, Goldman Sachs, HSBC, Independent Research, J.P. Morgan Cazenove, Kepler Cheuvreux, LBBW, MainFirst Bank, Morgan Stanley, NordLB, Oddo BHF, Redburn, Société Générale, UBS, Warburg Research
 
Disclaimer
This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.