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Recommendations and Price Targets
Recommendations
Negative: 4, Neutral: 16, Positive: 2 (Total: 22)
-1
+1-0.09
BrokerPrice Targets (EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
AB Bernstein 40.00 32.00 25.0% 11.1% Marketperform Marketperform Unchanged 2018-03-29 
Bankhaus Metzler 38.00 40.80 -6.9% 5.5% Buy Buy Unchanged 2018-01-08 
Barclays 34.00 34.00 0.0% -5.6% Underweight Underweight Unchanged 2017-12-14 
Berenberg Bank 37.00 32.00 15.6% 2.7% Hold Hold Unchanged 2018-04-11 
BoA Merrill Lynch 32.30 Underperform 2018-03-16 
Bryan, Garnier & Co 33.00 31.00 6.5% -8.4% Neutral Neutral Unchanged 2018-03-23 
Citigroup 34.70 Neutral 
Commerzbank 36.76 31.80 15.6% 2.1% Hold Hold Unchanged 2018-03-15 
Credit Suisse 32.40 Neutral 2018-01-25 
Deutsche Bank 36.00 36.00 0.0% 0.0% Hold Hold Unchanged 2018-03-12 
Exane BNP Paribas 30.50 31.50 -3.2% -15.3% Underperform Neutral Downgrade 2018-02-20 
Goldman Sachs 35.20 35.20 0.0% -2.2% Neutral Neutral Unchanged 2018-02-28 
HSBC 40.00 28.00 42.9% 11.1% Hold Reduce Upgrade 2018-03-19 
J.P. Morgan Cazenove 36.76 38.00 -3.3% 2.1% Neutral Neutral Unchanged 2018-03-20 
Jefferies 36.80 29.00 26.9% 2.2% Hold Hold Unchanged 2018-03-15 
Kepler Cheuvreux 35.00 35.00 0.0% -2.8% Hold Hold Unchanged 2018-05-07 
LBBW 40.00 34.00 17.6% 11.1% Hold Hold Unchanged 2018-03-12 
Macquarie 40.00 34.50 15.9% 11.1% Outperform Neutral Upgrade 2018-03-12 
Morgan Stanley 30.50 30.50 0.0% -15.3% Underweight Underweight Unchanged 2018-05-02 
Oddo BHF 34.00 35.00 -2.9% -5.6% Neutral Neutral Unchanged 2017-12-21 
Raymond James 36.76 33.30 10.4% 2.1% Underperform Underperform Unchanged 2018-05-04 
RBC Capital Markets 37.00 34.00 8.8% 2.7% Sector Perform Sector Perform Unchanged 2018-03-23 
Santander 34.75 33.00 5.3% -3.5% Hold Hold Unchanged 2018-04-26 
Société Générale 38.40 28.20 36.2% 6.6% Hold Sell Upgrade 2018-03-19 
UBS 35.00 35.00 0.0% -2.8% Neutral Neutral Unchanged 2018-03-12 
Warburg Research 42.00 Buy 
 CurrentPreviousChangeUpside/DownsideRecommendationsCurrentChanges 
Price (EUR) (as of last trading day) 36.01       Number of Analysts 22     
Number of Analysts 22 26     - thereof positive Upgraded: 3 Analysts 
- Highest 40.00 42.00 -4.8% 11.1%  9.1%     
- Consensus 36.16 33.58 7.7% 0.4% - thereof neutral 16 Unchanged: 18 Analysts 
- Median 36.76 33.65 9.2% 2.1%  72.7%     
- Lowest 30.50 28.00 8.9% -15.3% - thereof negative Downgraded: 1 Analysts 
           18.2%     
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 7 May 2018
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, Commerzbank, Credit Suisse, Deutsche Bank, Exane BNP Paribas, Goldman Sachs, HSBC, J.P. Morgan Cazenove, 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.