The nice Commerzbank $CBK (-2.59%) has sent me a letter announcing that they will start charging account management fees on the Basic current account in the 2nd quarter. 5 a month for no additional services.

I am currently still using 2 giro accounts (Commerzbank and C24) - but this will now change to 100% C24 in the course of March. There I get more services for 0€ and Commerzbank doesn't offer any services for which I would need a branch. 🤷🏻‍♂️

I wonder if this is really the move, and if they shouldn't have just made the fee-based accounts more expensive? (I'm sure if you're paying for Giro anyway it makes no difference whether it's €5, €9 or €15)

I'm sure I'm not the only one making the change now, I wonder if the exchange rate will react to it over the course of the year? the user numbers over the course of 2025 will definitely be interesting 🧐

Kiss,

Larry

Have you heard about the latest developments at Commerzbank? $CBK (-2.59%) heard? The bank is planning to cut several thousand jobs by 2028, mainly at its headquarters in Frankfurt. 😲 The background? Possible takeover plans by the major Italian bank Unicredit $NBLB-R-B.

Commerzbank is focusing on a socially responsible transformation process that aims to take advantage of natural fluctuation and demographic change. This means that they are trying to compensate for the jobs that will be lost through normal departures.

But the debate is heated! The head of the works council has already warned of a reduction of up to 15,000 jobs. The German government was also outraged by the situation, while Unicredit is increasing its stake in Commerzbank.

What do you think about these developments? Will Commerzbank actually be swallowed up by Unicredit or is there another solution?

DAX reaches new all-time high again 🇩🇪📈💶👑. The left, trade unions and Wahra Sagenknecht would say that the stock market is a casino and a game of chance. Some people just always want to be wrong. Samsung Galaxy Watch 7 Which German shares do you have and how have they performed? #dax
#dax40
$LYY7 (-2.48%)
$SIE (-3.57%)
$ALV (-1.23%)
$SAP (-5.45%)
$VOW (+0.09%)
$BMW (+1%)
$P911 (+3.87%)
$RHM (-0.11%)
$ENR (-9.57%)
$AIR (-4.49%)
$DTE (+1.15%)
$DBK (-3.08%)
$DHL (-1.92%)
$CBK (-2.59%)
$MBG (+1.43%)
$PAH3 (+1.78%)

Analsyst updates, 06.12.

⬆️⬆️⬆️

• BERNSTEIN raises the price target for SIEMENS from EUR 220 to EUR 227. Outperform. $SIE (-3.57%)
• JPMORGAN raises the target price for SIEMENS ENERGY from EUR 38.70 to EUR 44. Neutral. $ENR (-9.57%)
• JEFFERIES upgrades BMW from Hold to Buy and raises target price from EUR 80 to EUR 85. $BMW (+1%)
• ODDO BHF raises the price target for AURUBIS from EUR 70 to EUR 76. Neutral. $NDA (-2.59%)
• UBS raises target price for AUTO1 from EUR 9.80 to EUR 20.50. Buy. $AG1 (-7.78%)
• UBS raises the target price for NORDEA from SEK 144 to SEK 145. Buy. $NDA FI (-1.42%)
• DEUTSCHE BANK RESEARCH raises the price target for FREENET from EUR 34 to EUR 36. Buy. $FNTN (-0.37%)
• DEUTSCHE BANK RESEARCH raises the target price for DS SMITH from GBP 4 to GBP 5.80. Hold. $SMDS
• JPMORGAN raises the price target for THYSSENKRUPP from EUR 3.80 to EUR 4.10. Neutral. $TKA (-7.85%)
• JPMORGAN raises the target price for SALZGITTER from EUR 11.50 to EUR 14.10. Underweight. $SZG (-1.25%)
• JPMORGAN raises the price target for SCHNEIDER ELECTRIC from EUR 270 to EUR 275. Overweight. $SU (-4.26%)
• JPMORGAN raises the price target for KNORR-BREMSE from EUR 88 to EUR 92. Overweight. $KBX (-2.7%)
• MORGAN STANLEY upgrades HANNOVER RÜCK to Overweight. Target price EUR 292. $HNR1 (-0.32%)
• JPMORGAN raises the target price for COMMERZBANK from EUR 18.40 to EUR 19.50. Overweight. $CBK (-2.59%)

⬇️⬇️⬇️

• GOLDMAN lowers the price target for LVMH from EUR 770 to EUR 720. Buy. $MC (-1.59%)
• MORGAN STANLEY downgrades MUNICH RE to Equal-Weight. Target price 523 EUR. $MUV2 (+0.07%)
• JEFFERIES downgrades MERCEDES-BENZ from Buy to Hold and lowers target price from EUR 73 to EUR 60. $MBG (+1.43%)
• ODDO BHF lowers the price target for DELIVERY HERO from EUR 43 to EUR 38. Neutral. $DHER (-5.29%)
• WARBURG RESEARCH lowers the price target for COMPUGROUP from EUR 31 to EUR 24.50. Buy. $COP (+0.4%)
• JPMORGAN lowers the price target for VESTAS from DKK 143 to DKK 123. Neutral. $VWS (+1.34%)
• JPMORGAN lowers the price target for KION from EUR 44 to EUR 43. Overweight. $KGX (-6.53%)
• MORGAN STANLEY downgrades ORSTED to Equal-Weight. Target price DKK 480. $ORSTED (-1.67%)

Dax dividends fall

In 2025, the 40 DAX companies will be paying out seven percent less than last year, according to a forecast by Handelsblatt. Car manufacturer shareholders will be hit particularly hard.

Many DAX shareholders will have to adjust to lower dividends for the current financial year: According to a forecast by Handelsblatt, the 40 Dax-listed companies will pay out a combined €48.5 billion next spring. That would be seven percent less than in the previous year.

At the same time, 22 companies are likely to further increase their payouts and eight will reduce their dividends. But overall, there will be a decline for the first time since the outbreak of the pandemic. This is mainly due to the car manufacturers, where the dividend total is likely to fall by almost 35% to around ten billion euros. This is due to falling profits at VW $VOW (+0.09%) , BMW $BMW (+1%) and Mercedes $MBG (+1.43%) due to poor sales figures in Europe and especially in the former boom country China.

In contrast, the sporting goods manufacturer Adidas $ADS (-4.8%) , the Deutsche Telekom
$DTE (+1.15%) and the arms manufacturer Rheinmetall $RHM (-0.11%) are increasing their dividends particularly sharply. This also applies to Deutsche Bank
$DBK (-3.08%) and Commerzbank $CBK (-2.59%) and the insurers Allianz $ALV (-1.23%) , Munich Re
$MUV2 (+0.07%) and Hannover Re
$HNR1 (-0.32%) . The healthcare group Fresenius $FRE (-2.48%) has not distributed anything for 2023, but is now planning a dividend again.

Commerzbank analyst Andreas Hürkamp sees a rotation: "In 2011, the automotive sector replaced utilities as the sector with the highest dividends. Now it is becoming apparent that after 14 years, insurers will be the new number one dividend payers in the DAX."

Handelsblatt

⬆️⬆️⬆️

- GOLDMAN raises the price target for DELL from USD 155 to USD 165. Buy. $DELL (-0.74%)

- GOLDMAN raises the price target for ANALOG DEVICES from USD 247 to USD 261. Buy. $ADI (-3.55%)

- GOLDMAN raises the price target for HP INC from USD 35 to USD 38. Neutral. $HPQ (-1.8%)

- WARBURG RESEARCH raises the price target for VONOVIA from EUR 40.20 to EUR 42.30. Buy. $VNA (+1.16%)

- WARBURG RESEARCH upgrades STRATEC from Hold to Buy. Target price 40 EUR. $SBS4

- DEUTSCHE BANK RESEARCH raises the price target for DEUTSCHE BÖRSE from EUR 235 to EUR 237. Buy. $DB1 (+2.3%)

- MORGAN STANLEY raises the target price for DEUTSCHE TELEKOM from EUR 33 to EUR 38. Overweight. $DTE (+1.15%)

- GOLDMAN raises the price target for TRATON from EUR 31.80 to EUR 35.50. Neutral. $8TRA (-4.84%)

- GOLDMAN raises the price target for BRENNTAG from EUR 94 to EUR 95. Buy. $BNR (-2.78%)

- BERENBERG upgrades EQUINOR from Hold to Buy and raises target price from NOK 290 to NOK 325. $EQNR (+5%)

- JPMORGAN raises the target price for BEIERSDORF from EUR 150 to EUR 160. Overweight. $BEI (+1.16%)

- JPMORGAN upgrades HENKEL from Neutral to Overweight and raises target price from EUR 82 to EUR 100. $HEN (-0.57%)

- JPMORGAN upgrades BRITISH AMERICAN TOBACCO to Neutral. $BATS (+0.41%)

- JPMORGAN raises the price target for EON from EUR 15.50 to EUR 16. Overweight. $EOAN (+0.23%)

- JPMORGAN raises the target price for AUTO1 from EUR 12.10 to EUR 17.10. Overweight. $AG1 (-7.78%)

⬇️⬇️⬇️

- STIFEL lowers the price target for SIEMENS from EUR 207 to EUR 202. Buy. $SIE (-3.57%)

- JPMORGAN lowers the price target for HP INC from USD 41 to USD 40. Overweight. $HPQ (-1.8%)

- WARBURG RESEARCH lowers the price target for LANXESS from EUR 40 to EUR 37. Buy. $LXS (-2.54%)

- CITIGROUP lowers the price target for BASF from EUR 49 to EUR 46. Neutral. $BAS (-2.74%)

- RBC lowers the target price for COMMERZBANK from EUR 18 to EUR 17.25. Sector Perform. $CBK (-2.59%)

- RBC lowers the target price for ING from EUR 17.50 to EUR 16.75. Sector-Perform. $ING (-3.41%)

- RBC lowers the price target for BNP PARIBAS from EUR 79 to EUR 78. Outperform. $BNP (-2.85%)

- JPMORGAN lowers the price target for ELRINGKLINGER from EUR 6.70 to EUR 6. Neutral. $ELLRY (+10.42%)

- JPMORGAN lowers the price target for SYMRISE from EUR 130 to EUR 120. Overweight. $SY1 (+1.8%)

I just found it on my old iPhone 4 😅

At the time, there were many issues that led to this loss. Debt crisis in the EU, takeover of Dresdner Bank in 2008... and much more.

The combination of internal problems and external crises meant that the stock was one of the worst performers in the DAX at times and lost a lot of value.

$CBK (-2.59%)
#historie

⬆️⬆️⬆️

- DEUTSCHE BANK RESEARCH raises its price target for BMW from EUR 90 to EUR 95. Buy. $DBK (-3.08%)

- BERNSTEIN raises the price target for QUALCOMM from USD 200 to USD 215. Outperform. $QCOM (-3.79%)

- UBS raises the price target for LYFT from USD 13 to USD 18. Neutral. $LYFT (-7.3%)

- BARCLAYS raises the price target for SIEMENS HEALTH from EUR 60.50 to EUR 62.50. Overweight. $SHL (-2.09%)

- WARBURG RESEARCH raises the price target for KONTRON from EUR 28 to EUR 28.40. Buy. $KTN (-4.85%)

- UBS upgrades KINGSPAN GROUP from Neutral to Buy. Target price 90 EUR. $KRX (-1.17%)

- WARBURG RESEARCH raises the price target for ZEAL NETWORK from EUR 59 to EUR 64. Buy. $TIMA (+0.47%)

- GOLDMAN raises the price target for VONOVIA from EUR 42.70 to EUR 43.70. Buy. $VNA (+1.16%)

- BARCLAYS raises the price target for AHOLD DELHAIZE from EUR 30 to EUR 31. Equal-Weight. $AD (+0.68%)

- BARCLAYS raises the target price for FMC from EUR 38.50 to EUR 39. Equal-Weight. $FMC (+0.76%)

- JPMORGAN raises the target price for COMMERZBANK from EUR 18 to EUR 18.40. Overweight. $CBK (-2.59%)

- JPMORGAN raises the target price for PUMA SE from EUR 40 to EUR 44. Neutral. $PUM (+1.73%)

- JPMORGAN raises the target price for JUST EAT TAKEAWAY from GBP 13.96 to GBP 14.15. Overweight. $TKWY (+0.56%)

⬇️⬇️⬇️

- JEFFERIES downgrades PALANTIR from Hold to Underperform. Target price USD 28. $PLTR (-9.57%)

- DEUTSCHE BANK RESEARCH lowers the price target for NOVO NORDISK from DKK 1100 to DKK 1000. Buy. $NOVO B (-8.96%)

- RBC lowers the price target for NIKE from 82 USD to 80 USD. Sector Perform. $NKE (-2.84%)

- ODDO BHF downgrades ASM INTERNATIONAL to Outperform. Target price EUR 960. $ASM (-7.8%)

- KEPLER CHEUVREUX downgrades HENSOLDT from Buy to Hold. Target price EUR 34. $HAG (-4.82%)

- DEUTSCHE BANK RESEARCH lowers the price target for ZALANDO from EUR 40 to EUR 36. Buy. $ZAL (-5.29%)

- DEUTSCHE BANK RESEARCH lowers the price target for VESTAS from DKK 165 to DKK 150. Hold. $VWS (+1.34%)

- BOFA downgrades SIEMENS ENERGY from Buy to Neutral. Target price EUR 40. $ENR (-9.57%)

- METZLER lowers the price target for VONOVIA from EUR 28.50 to EUR 28. Sell. $VNA (+1.16%)

- BARCLAYS lowers the price target for TEAMVIEWER from EUR 18 to EUR 15.50. Overweight. $TMV (-2.7%)

- WARBURG RESEARCH lowers the price target for KLÖCKNER & CO from EUR 6 to EUR 5.70. Buy. $KCOB

- HAUCK AUFHÄUSER IB lowers the target price for NORMA GROUP from EUR 32 to EUR 27. Buy. $NOEJ (-8.07%)

- WARBURG downgrades EDAG ENGINEERING from Buy to Hold and lowers target price from EUR 13 to EUR 9.50. $ED4 (-1.16%)

- LBBW lowers the price target for ALLGEIER from EUR 24 to EUR 20. Buy. $AEIA

- BARCLAYS lowers the price target for HENKEL from EUR 79 to EUR 77. Equal-Weight. $HEN (-0.57%)

- BERENBERG lowers the price target for KRONES from EUR 157 to EUR 154. Buy. $KRN (-1.49%)