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Recommendations and Price Targets
Recommendations
Negative: 2, Neutral: 12, Positive: 8 (Total: 22)
-1
+10.27
BrokerPrice Targets (EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
AB Bernstein 38.50 38.50 0.0% 10.0% Outperform Outperform Unchanged 2017-04-10 
Bankhaus Metzler 37.40 6.9% Buy 2017-01-23 
Barclays 33.00 33.00 0.0% -5.7% Equalweight Equalweight Unchanged 2017-05-05 
Berenberg Bank 37.00 37.00 0.0% 5.7% Buy Buy Unchanged 2016-11-15 
BoA Merrill Lynch 37.10 36.70 1.1% 6.0% Buy Buy Unchanged 2017-03-13 
Commerzbank 36.50 36.50 0.0% 4.3% Hold Hold Unchanged 2017-03-24 
Credit Suisse 32.40 31.20 3.8% -7.4% Neutral Neutral Unchanged 2017-03-24 
Deutsche Bank 37.00 37.00 0.0% 5.7% Buy Buy Unchanged 2016-11-16 
Exane BNP Paribas 38.00 38.00 0.0% 8.6% Outperform Outperform Unchanged 2017-03-14 
Goldman Sachs 35.50 37.00 -4.1% 1.4% Neutral Neutral Unchanged 2017-03-21 
HSBC 31.00 32.00 -3.1% -11.4% Reduce Hold Downgrade 2017-04-26 
Jefferies 34.00 34.00 0.0% -2.9% Hold Hold Unchanged 2017-04-24 
Kepler Cheuvreux 35.00 34.00 2.9% 0.0% Hold Hold Unchanged 2017-03-24 
LBBW 34.00 -2.9% Hold 2017-02-06 
Macquarie 38.00 38.00 0.0% 8.6% Outperform Outperform Unchanged 2017-04-20 
Morgan Stanley 31.00 -11.4% Underweight 2017-02-20 
Oddo Seydler Bank 34.00 34.00 0.0% -2.9% Neutral Neutral Unchanged 2017-04-26 
Raymond James Market Perform 2017-05-11 
RBC Capital Markets 36.50 34.50 5.8% 4.3% Sector Perform Sector Perform Unchanged 2017-05-08 
Santander 38.65 38.65 0.0% 10.4% Buy Buy Unchanged 2017-04-21 
Société Générale 32.70 32.70 0.0% -6.6% Hold Hold Unchanged 2016-11-29 
UBS 34.00 30.00 13.3% -2.9% Neutral Neutral Unchanged 2017-03-27 
 CurrentPreviousChangeUpside/DownsideRecommendationsCurrentChanges 
Price (EUR) (as of last trading day) 35.01       Number of Analysts 22     
Number of Analysts 21 18     - thereof positive Upgraded: 0 Analysts 
- Highest 38.65 38.65 0.0% 10.4%  36.4%     
- Consensus 35.30 35.15 0.4% 0.8% - thereof neutral 12 Unchanged: 17 Analysts 
- Median 35.50 35.50 0.0% 1.4%  54.5%     
- Lowest 31.00 30.00 3.3% -11.5% - thereof negative Downgraded: 1 Analysts 
           9.1%     
Positive = Buy, Outperform, Accumulate, Overweight / Neutral = Hold, Neutral, Sector Perform / Negative = Underweight, Sell, Reduce, Underperform
Upside/Downside (Price Target/Share Price): Positive ≥10% / 10% > Neutral > -10% / Sell ≤ -10%
 
Price Target Analysis (EUR)
PT Consensus
Share price (as of publication date)
Recommendations (%)
Positive
Neutral
Negative
Last update on 2017-05-15
The earnings estimates of the following institutions were included in the above figures:
AB Bernstein, Bankhaus Metzler, Barclays, Berenberg Bank, BoA Merrill Lynch, Commerzbank, Credit Suisse, Deutsche Bank, Exane BNP Paribas, Goldman Sachs, HSBC, Jefferies, Kepler Cheuvreux, LBBW, Macquarie, Morgan Stanley, Oddo Seydler Bank, Raymond James, RBC Capital Markets, Santander, Société Générale, UBS
 
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.