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Recommendations and Price Targets
Recommendations
negative: 4, neutral: 5, positive: 3 (total:12)
-1
+1-0.08
BrokerPrice targets (in EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
Baader Helvea / Markus Mayer 34.00 34.00 0.0% -9.4% Sell Sell Unchanged 2016-11-15 
Bankhaus Lampe / Heiko Feber 
Bankhaus Metzler / Lars Hettche 39.00 Hold 2016-10-16 
Berenberg Bank / Andrew Heap 36.15 36.15 0.0% -3.7% Sell Sell Unchanged 2016-10-07 
Commerzbank / Lutz Grüten 44.00 44.00 0.0% 17.3% Hold Hold Unchanged 2016-11-18 
Deutsche Bank / Uwe Schupp 36.00 Hold 2016-10-18 
DZ Bank / Dr. Heinz Müller 43.00 43.00 0.0% 14.6% Buy Buy Unchanged 2016-11-17 
equinet / Dr. Knud Hinkel 
Hauck & Aufhäuser / Nils-Peter Gehrmann 40.00 40.00 0.0% 6.6% Hold Hold Unchanged 2016-11-03 
Independent Research / Bernhard Weininger 36.00 -4.1% Sell 2016-11-07 
Kepler Cheuvreux / Martin Rödiger 37.00 37.00 0.0% -1.4% Reduce Reduce Unchanged 2016-11-18 
LBBW / Ulle Wörner 40.00 40.00 0.0% 6.6% Hold Hold Unchanged 2016-11-14 
MainFirst Bank / Andreas Heine 40.00 40.00 0.0% 6.6% Neutral Neutral Unchanged 2016-11-07 
NordLB / Thorsten Strauss 40.00 6.6% Hold 2016-11-22 
UBS / Ben Orzelek 46.50 23.9% Buy 2016-11-08 
Warburg Research / Oliver Schwarz 47.00 47.00 0.0% 25.2% Buy Buy Unchanged 2016-11-21 
 CurrentPreviousChangeUp-/DownsideRecommendationsCurrentChanges 
Price in EUR (last trading day) 37.53       Number of Analysts 12     
Number of Analysts 12 11     - thereof positive Upgraded: 0 Analysts 
- Highest 47.00 47.00 0.0% 25.2% - in % 25%     
- Consensus (Median) 40.00 40.00 0.0% 6.6% - thereof neutral Unchanged: 9 Analysts 
- Mean 40.30 39.65 2.0% 7.4% - in % 42%     
- Lowest 34.00 34.00 0.0% -9.4% - thereof negative Downgraded: 0 Analysts 
          - in % 33%     
 
Price Target Analysis (in EUR)
PT Consensus (right hand scale)
Share price (right hand scale)
Recommendations (in %)
Positive (left hand scale)
Neutral (left hand scale)
Negative (left hand scale)
Last update on 24/11/2016
The earnings estimates of the following institutions were included in the above figures:
Baader Helvea, Berenberg Bank, Commerzbank, DZ Bank, Hauck & Aufhäuser, Independent Research, Kepler Cheuvreux, LBBW, MainFirst Bank, NordLB, 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.