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Recommendations and Price Targets
Recommendations
Negative: 3, Neutral: 14, Positive: 7 (Total: 24)
-1
+10.17
BrokerPrice Targets (EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
AB Bernstein 37.50 37.50 0.0% -5.0% Marketperform Marketperform Unchanged 2017-08-14 
Bankhaus Metzler 40.80 37.40 9.1% 3.3% Buy Buy Unchanged 2017-08-18 
Barclays 34.00 33.00 3.0% -13.9% Underweight Underweight Unchanged 2017-08-29 
Berenberg Bank 37.00 37.00 0.0% -6.3% Buy Buy Unchanged 2017-06-21 
BoA Merrill Lynch 37.60 37.60 0.0% -4.8% Buy Buy Unchanged 2017-08-04 
Bryan, Garnier & Co 35.00 35.00 0.0% -11.4% Neutral Neutral Unchanged 2017-08-11 
Citigroup 34.70 -12.1% Neutral 2017-08-01 
Commerzbank 36.50 36.50 0.0% -7.6% Hold Hold Unchanged 2017-08-11 
Credit Suisse 32.40 31.20 3.8% -17.9% Neutral Neutral Unchanged 2017-03-24 
Deutsche Bank 40.00 40.00 0.0% 1.3% Buy Buy Unchanged 2017-08-04 
Exane BNP Paribas 37.70 37.70 0.0% -4.5% Neutral Neutral Unchanged 2017-08-11 
Goldman Sachs 42.00 41.50 1.2% 6.4% Buy Buy Unchanged 2017-08-18 
HSBC 36.00 31.00 16.1% -8.8% Hold Reduce Upgrade 2017-06-15 
Jefferies 34.00 34.00 0.0% -13.9% Hold Hold Unchanged 2017-08-11 
Kepler Cheuvreux 35.00 35.00 0.0% -11.4% Hold Hold Unchanged 2017-08-21 
LBBW 34.00 -13.9% Hold 2017-02-06 
Macquarie 40.00 39.00 2.6% 1.3% Outperform Outperform Unchanged 2017-08-11 
Morgan Stanley 32.50 32.50 0.0% -17.7% Underweight Underweight Unchanged 2017-08-29 
Oddo BHF 35.00 35.00 0.0% -11.4% Neutral Neutral Unchanged 2017-08-28 
Raymond James Market Perform Market Perform Unchanged 2017-08-11 
RBC Capital Markets 37.50 36.50 2.7% -5.0% Underperform Sector Perform Downgrade 2017-08-23 
Santander 37.30 37.30 0.0% -5.5% Buy Buy Unchanged 2017-08-11 
Société Générale 37.10 32.70 13.5% -6.0% Hold Hold Unchanged 2017-03-21 
UBS 36.00 34.00 5.9% -8.8% Neutral Neutral Unchanged 2017-07-07 
 CurrentPreviousChangeUpside/DownsideRecommendationsCurrentChanges 
Price (EUR) (as of last trading day) 39.49       Number of Analysts 24     
Number of Analysts 23 21     - thereof positive Upgraded: 1 Analysts 
- Highest 42.00 41.50 1.2% 6.4%  29.2%     
- Consensus 36.50 35.78 2.0% -7.6% - thereof neutral 14 Unchanged: 20 Analysts 
- Median 36.50 36.50 0.0% -7.6%  58.3%     
- Lowest 32.40 31.00 4.5% -17.9% - thereof negative Downgraded: 1 Analysts 
           12.5%     
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 2017-08-29
The earnings estimates of the following institutions were included in the above figures:
AB Bernstein, Bankhaus Metzler, Barclays, Berenberg Bank, BoA Merrill Lynch, Bryan, Garnier & Co, Citigroup, Commerzbank, Credit Suisse, Deutsche Bank, Exane BNP Paribas, Goldman Sachs, HSBC, Jefferies, Kepler Cheuvreux, LBBW, Macquarie, Morgan Stanley, Oddo BHF, 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.