KION $KGX (+2.19%) is a global market leader for industrial trucks (Linde, STILL) and automated warehouse solutions (Dematic). In 2024, the adj. EBIT margin rose to 8.0%; service revenue share > 48% supports cash flow.

Share currently trading ≈ 15% below book value.

With EV/EBITDA < 3 ×, P/E ratio ≈ 13 ×, double-digit FCF yield and significant book value discount, KION offers a pronounced margin of safety. From a purely value-oriented perspective #kion currently worth buying - provided you accept the cyclical nature of the project business and keep an eye on the margins of the Supply Chain Solutions business unit (Dematic).

#linde
#still
#dematic

The German bank has now also used the coalition agreement and the associated special fund as the basis for a list of recommendations.

The result is a list of 10 potential profiteers.

The result:

$CBK (-1.51%) - Commerzbank

$ENR (+1.2%) - Siemens Energy

$VOS (+0.99%) - Vossloh

$HEI (+1.84%) - Heidelberg Materials

$EVK (+0.16%) - Evonik

$KGX (+2.19%) - Kion

$BC8 (+1.58%) - Bechtle

$COK (-0.56%) - Cancom

$VOW (+0.93%) - Volkswagen

$PAL (+2.14%) - Palfinger

Source: "Welt"

The multi-billion euro package for defense and infrastructure has cleared a decisive hurdle:

After lengthy negotiations, the parliamentary group leaders of the CDU/CSU, SPD and Greens have reached an agreement. The Bundestag could pass the package as early as next Tuesday.

The stock market reacted positively: $RHM (+1.96%) rises by five percent, $SMA records a rise of six percent, $KGX (+2.19%) rises by five percent, $TKA (+2.93%) rises by six percent and $BC8 (+1.58%) and can record an increase of nine percent.

If the Bundestag agrees, the bill still has to go through the Bundesrat. Here, too, a two-thirds majority is required for a resolution.

The negotiations took several days. Friedrich Merz had come a good deal closer to the Greens. On Thursday in the Bundestag, Merz offered to relax the debt brake not only for defense, but also for civil protection, civil defence and intelligence services. He also suggested earmarking part of the infrastructure loans for climate protection. However, the Greens had missed guarantees both for more money for the climate and that climate protection spending would actually increase.

As every Sunday, the most important news from the past week, as well as the dates for the coming week.

Also as a video:

https://youtube.com/shorts/yU_UfNQy7OQ?feature=shared

Sunday:

Another crypto theft occurred, this time probably the biggest ever. 1.5 billion dollars were stolen from the crypto exchange Bybit. Although the blockchain is considered secure, access to the individual wallets in which the cryptos are stored is not. As a result, there was a 'bank run' on the exchange as investors lost confidence and withdrew their money.

https://www.handelsblatt.com/finanzen/maerkte/devisen-rohstoffe/krypto-milliarden-diebstahl-schockt-krypto-markt/100109251.html

Monday:

No tailwind for the new federal government in Germany, the ifo business climate index is stagnating. The economy therefore remains a major construction site and urgent action is needed.

https://www.handelsblatt.com/politik/konjunktur/konjunktur-ifo-geschaeftsklima-stagniert-deutsche-wirtschaft-wartet-ab/100109446.html

Tuesday:

Fuel cell specialist$F3C (+0.32%) FC Energy is also forecasting double-digit growth for 2025. In 2024, the company achieved the upper end of the forecast for sales growth (+22.5%). Adjusted EBITDA grew to 22 million euros, exceeding the forecast.

https://www.finanzen.net/nachricht/aktien/auf-wachstumskurs-sfc-energy-aktie-sfc-energy-rechnet-mit-anhaltendem-wachstum-14267631

Wednesday:

Deutsche Telekom $DTE (-1.04%) Deutsche Telekom is on a record course but falls short of the expectations of some analysts. Sales rose by 3.4 % to 115.77 billion euros, the dividend is to rise to 90 cents per share. The development of the US subsidiary remains decisive for Deutsche Telekom.

https://www.handelsblatt.com/technik/it-internet/deutsche-telekom-setzt-nach-rekordjahr-2024-auf-weiteres-wachstum/100108104.html

e.on $EOAN (-0.89%) is convincing in terms of figures, even if the results here were slightly below the previous year's figures. EBITDA is expected to increase by 6-9% in 2025. The CEO of e.on expects the new German government to finally implement an efficient energy transition instead of adhering to expansion targets at all costs. The dividend is to rise to 55 cents per share.

https://www.waz.de/wirtschaft/article408409404/stromriese-eon-verdient-trotz-rezession-erneut-milliarden.html

Thursday:

$SIX2 (+1.1%) Sixt, the car rental company, presents record sales figures. Turnover increased by 10.5% to 4 billion euros. The US business in particular is doing well. Profits fall slightly due to falling used car prices. The dividend is to rise to 2.70 per share. Sales growth of 5 - 10 % is also planned for the coming year.

https://www.boerse.de/nachrichten/EQS-News-SIXT-durchbricht-erstmals-die-Vier-Milliarden-Umsatzmarke-Drittes-Rekordjahr-in-Folge/37085370

Also $KGX (+2.19%) Kion is planning to increase its dividend from 0.70 to 0.82 euros per share. Turnover is expected to stagnate in 2025 and amount to 10.9 - 11.7 billion euros. In 2024 it was 11.5 billion euros.

https://www.finanzen.net/nachricht/aktien/ausblick-vorsichtig-kion-aktie-mit-aufschlaegen-hoehere-dividende-nach-gewinnzuwachs-geplant-14275807

GDP growth in the USA falls to a growth rate of 2.3% in the 4th quarter. However, this is in line with expectations. Germany is a long way from 2.3 % growth. The country is in the longest recession phase in post-war history.

https://finance.yahoo.com/news/gdp-us-economy-grows-at-23-annualized-pace-in-fourth-quarter-matching-estimates-133216310.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEDHZnuC0vgU8t8P7RBXsPEgAWKgMPnwT-Drlsk8DdbuQHCNMXQ7A1RS54QADRKn60ZxSDZoUa_q_5Xoub7zQSzmycOPUkgkOlopnSzTIeKez9crAfvPN2tBrlZUdmJEpy_cgFrV-geZT0BuG_Rqr5_OMyPnvoiPClm6tDcy3OZ8

Friday:

The world's largest insurance group posts a bottom-line profit of 10 billion euros, up 10% on the previous year. Allianz $ALV (+0.42%) Allianz once again exceeds analysts' expectations and the dividend rises to €15.40 per share. At the same time, Allianz has been cutting back on life insurance benefits for years.

https://www.handelsblatt.com/finanzen/banken-versicherungen/versicherer/versicherer-allianz-erzielt-rekordgewinn-und-zahlt-mehr-dividende/100108025.html

Due to rising food prices, inflation in Germany remains at 2.3%. Next week there will be further inflation data from the EU, as well as a possible key interest rate cut by the ECB.

https://www.welt.de/wirtschaft/article255568962/Inflation-liegt-im-Februar-bei-2-3-Prozent-Nahrung-und-Dienstleistungen-werden-teurer.html

These are the most important dates for the coming week:

Monday: 11:00 Inflation data (EU)

Wednesday: 16:00 ISM data (USA)

Thursday: 14:15 Interest rate decision (EU)

Can you think of any other dates? Write it in the comments 👇

#inflation
#usa
#ezb
#zinsentscheid

I was inspired by a Focus Money article and because many people here are asking.

I won't be investing myself, it's too short-term for me. But there are still some very interesting companies.

Feel free to write in the comments whether such "copied articles" are of any use to the community or are legally correct :)

The signs of a peace process in Ukraine are solidifying. This is triggering a run on the stock market for shares that could benefit from reconstruction

Regardless of the political interpretation, the stock market has been turning its back on the war for several days now and is betting on the coming peace. Stocks that are likely to benefit from the reconstruction in Ukraine have soared. The UBS Ukraine Reconstruction Index, which comprises 25 of these stocks, has been climbing for days and is at an all-time high. "The effects of a possible ceasefire in Ukraine are still being underestimated on the financial markets," says Bernd Meyer, Chief Investment Strategist and Head of Multi Asset at Berenberg, who is convinced that the rally will continue. Reconstruction requires enormous resources. According to estimates by the World Bank, the costs for this amount to a total of 500 billion dollars - the equivalent of Austria's gross domestic product and more than three times Ukraine's annual economic output before the war. The money is likely to benefit construction companies, suppliers, infrastructure companies and banks in particular. European companies could be the main beneficiaries - especially from neighboring countries such as Poland and Hungary, but also the Czech Republic, Austria and Germany.

With Wärtsilä $WRT1V (-1.58%) a provider of technologies for the shipping and energy markets, and Konecranes $KCR (+2.97%) a manufacturer of industrial cranes and drive technology, Finnish companies are also on the list of potential peace beneficiaries - as are Italian companies such as the cement and building materials manufacturer Buzzi $BZU (+1.07%) The list is long. There is a great need for building materials, steel and cables to restore the destroyed infrastructure and energy supply. There is still no thematic fund or ETF on the beneficiaries of the reconstruction in Ukraine. Investors who want to benefit from this are therefore well advised to combine several securities into a portfolio themselves.

Banks: Erste Group Bank $EBS (+0.52%) Powszechna K. Osz $PKO (+0.47%) Santander Polska $SPL (+1.05%) Polska K. Opieki $PEO (+0.11%) Raiffeisen Bank Int.$RBI (-0.48%)

Construction: Wienerberger $WIE (-0.49%) Sniezka Construction $SKA Strabag $STR (+1.84%)

Insulation: Kingspan Group $KRX (+2.02%) Rockwool $ROCK B

Glass: Cie de Saint-Gobain $SGO (+3.21%)

Cranes: Konecranes $KCR (+2.97%)

Cement: CRH $CRH (+2.25%) Buzzi $BZU (+1.07%) Holcim $HOLN (+1.07%) Heidelberg Mat. $HEI (+1.84%)

Construction machinery: Caterpillar $CAT (+0.19%)

Mining: Ferrexpo $FXPO (+0.38%) Metso $METSO (-1.68%)

Chemicals: BASF $BAS (+1%)

Industrial gases: Air Liquide $AI (-0.34%)

Infrastructure: Schneider Electric $SU (+2.33%) Rexel $RXL (+1.92%) Wärtsilä $WRT1V (-1.58%) Weir Group $WEIR (-2.08%)

Infrastructure (E): Siemens Energy $ENR (+1.2%) Prysmian $PRY (+1.74%) NKT $NKT (+0.11%) Nexans $NEX (+1.51%)

Agriculture: Kernel $KER (-0.67%)

Logistics(warehouse): Kion $KGX (+2.19%)

Steel: Arcelor Mittal $MT (-0.33%) and for stainless steels Outukompu $OUT1V (+0.15%)

Sanitary technology: Geberit $GEBN (+0.68%)

Specialty chemicals: Evonik $EVK (+0.16%) Arkema $AKE (+0.23%) Wacker Chemie $WCH (+0.96%) Lanxess $LXS (+0.79%)

As every Sunday, the most important news from the past week, as well as the most important dates for the coming week.

Also as a video:

https://youtube.com/shorts/QjmnXzs5aPw?si=UBa2XKVcVG4h_9k1

Sunday:

Stock markets are likely to open lower on Monday. The reason is the tariff dispute between the USA and the rest of the world. Mexico and Canada have been hit with 25% tariffs, China with 10% and the EU is to follow suit. Both Mexico and Canada are not putting up with it and are hitting back. Justin Trudeau announces the same tariffs on US products and calls for a boycott of US products.

https://www.handelsblatt.com/politik/international/reaktion-auf-trump-kanada-schlaegt-im-zollstreit-zurueck-dollar-fuer-dollar/100105058.html

Monday:

Inflation in the eurozone is on the rise again. Inflation rates rose to 2.5% in January. The expectation was 2.4%, but in combination with Trump's tariffs, this news is unlikely to go down well. This is because higher inflation and tariffs could make further interest rate cuts less likely.

https://www.morningstar.de/de/news/260151/inflation-in-der-eurozone-steigt-wieder-an---eu-bereitet-sich-auf-us-zouml%3Blle-vor.aspx

Tuesday:

UBS $UBSG (+0.73%) UBS benefits from higher interest rates and generates significantly higher profit. Profit amounted to 5.1 billion euros in 2024. The integration of Credit Suisse is progressing well. The dividend is set to increase.

https://www.handelsblatt.com/finanzen/banken-versicherungen/banken/banken-ubs-hebt-nach-gewinnsprung-dividende-deutlich-an/100105216.html

Things are going well at $KGX (+2.19%) Kion. Despite an improved margin, the Group intends to further optimize costs. The operating margin improved to 8% in 2024. Cash flow and operating margin surprised positively.

https://www.finanzen.net/amp/effizienzoffensive-kion-aktie-gewinnt-marge-2024-verbessert-sich-kion-setzt-dennoch-sparmassnahmen-um-14205140

Wednesday:

Trump once again enters negotiations with maximum demands. He talks about the USA taking over the Gaza Strip. We are curious to see what the final outcome will be.

https://www.handelsblatt.com/politik/international/israel-trump-will-gaza-besetzen-und-palaestinenser-umsiedeln/100105686.html

$GOOGL (+1.72%) Alphabet falls slightly short of revenue expectations. Instead of USD 96.56 billion, it was only USD 96.47 billion. Overall, revenues increased by 12% in the last quarter. At 32%, the cloud division grew two percentage points less than expected.

https://www.finanzen.net/amp/quartalszahlen-vorgelegt-alphabet-aktie-rutscht-ab-google-mutter-alphabet-mit-gewinnsprung-cloudgeschaeft-enttaeuscht-14201453

German car manufacturers are not the only ones struggling with sales problems. Also $TSLA (+2%) Tesla and now $7203 (+1.02%) Toyota are also presenting poorer figures. Profits fell by 28% to 7.66 billion euros in the third quarter. In addition, Toyota is only now starting to develop electric cars.

https://www.handelsblatt.com/unternehmen/industrie/toyota-gewinn-des-groessten-autoherstellers-bricht-um-mehr-als-ein-viertel-ein/100105585.html

Good news: producer prices in the eurozone have risen less sharply than expected at 0.4%.

https://www.handelsblatt.com/finanzen/geldpolitik/inflation-erzeugerpreise-im-euroraum-gestiegen/100105784.html

Thursday:

The BoE cut the key interest rate to 4.5%. However, two members of the relevant committees called for an even greater rate cut. At the same time, the growth forecast in the UK 🇬🇧 was adjusted downwards.

https://www.handelsblatt.com/finanzen/geldpolitik/bank-of-england-leitzins-in-grossbritannien-sinkt-erneut-notenbank-steckt-im-stagflationsdilemma/100104646.html

These are the most important dates for the coming week:

Wednesday: 14:30 Inflation data (USA)

Thursday: 14:30 Producer prices (USA)

Friday: 14:30 Retail sales (USA)

Can you think of any other dates? Write it in the comments 👇

#inflation
#usa
#einzelhandel

As every Sunday, the most important news of the last week, as well as the three most important dates of the coming week.

Also as a video:

https://youtube.com/shorts/uFwVbCNGMd4?si=R4ReCZQl2ud6wUW-

Monday:

$9868 (-3.02%) Xpeng and $VOW3 (+0.89%) VW deepen their partnership in China 🇨🇳. Among other things, they are opening up their fast-charging networks to each other. New charging stations are also to be built jointly. VW holds a 5% stake in Xpeng.

https://www.handelsblatt.com/unternehmen/industrie/autobauer-xpeng-und-volkswagen-erweitern-ihre-partnerschaft-in-china/100098791.html

$BOSS (+0.15%) Hugo Boss wants to further strengthen the brand and has brought brand expert James Foster on board for this purpose. Foster was most recently head of marketing at Netflix in EMEA and worked at IKEA and Adidas.

https://www.absatzwirtschaft.de/neuer-globaler-marketingchef-bei-hugo-boss-265528/

Inflation is clearly above expectations and is therefore depressing sentiment for the time being. In December, inflation stood at 2.6% Economists had expected 2.4%. The inflation rate is also likely to remain well above the 2.0% target in January. This is due to higher CO2 prices and a more expensive ticket to Germany.

https://www.handelsblatt.com/finanzen/geldpolitik/inflation-teuerungsrate-steigt-in-deutschland-auf-26-prozent/100098327.html

The USA 🇺🇸 puts Tencent on a list of companies that allegedly support the Chinese military. The share loses significantly.

https://de.marketscreener.com/kurs/index/DOW-JONES-INDUSTRIAL-4945/news/USA-fugen-Tencent-und-CATL-der-Liste-chinesischer-Firmen-hinzu-die-angeblich-Pekings-Militar-unte-48689565/

Tuesday:

A cooperation between $NVDA (+1.24%) NVIDIA, $KGX (+2.19%) Kion and $ACN (+0.62%) Accenture to optimize supply chains causes Kion shares to rise significantly. Kion and Accenture are relying on AI from NVIDIA for optimization.

https://www.ariva.de/amp/ki-anwendungen-kion-arbeitet-mit-nvidia-zusammen-11493206

Wednesday:

$TMV (+0.78%) Teamviewer announces via ad hoc that it has exceeded its forecast for the year. Turnover increased by 9% in 2024. In total, it will probably be 671 million euros. The forecast was 662 - 668 million euros. This was mainly due to new billings and significant contracts signed with major customers.

https://www.boerse.de/nachrichten/EQS-Adhoc-TeamViewer-SE-TeamViewer-erzielt-Jahresumsatz-2024-von-ca-671-Mio-EUR-9-Prozent-waehrungsber-ggue-VJ-und-uebertrifft-Prognose-ausschlaggebend-waren-hoehere-Billings-von-ca-700-Mio-EUR-im/36874269

Retail sales have been growing again for 2 years. In real terms, however, the level is still below that of 2021. Compared to the previous month, sales have fallen more sharply than expected. However, the overall consumer mood among Germans is on the rise. The GfK consumer barometer climbed by 1.8 points to -21.3 points.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/handel-deutsche-einzelhaendler-steigern-umsatz-im-jahr-2024/100099305.html

Donald Trump is calling for more military spending and also wants to annex three countries - Canada, Panama and Greenland. This is not only highly dangerous rhetoric, but above all in the interests of Russia and China, who are planning to do the same with Ukraine and Taiwan. If Trump follows up his words with action, this would put the 'ambitions' of China and Russia into perspective

Thursday:

The Chinese fast clothing delivery service Shein probably wants to go public in the first half of the year. The IPO is planned for London. Shein is headquartered in Singapore.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/shein-billigmode-haendler-plant-boersengang-wohl-im-ersten-halbjahr/100099587.html

Friday:

$1913 (+1.8%) Prada is probably planning to take over the Italian fashion house Versace. Versace is currently part of the Capri holding company. A sale of the entire holding company for 8.5 billion euros has failed. Individual brands such as Versace and Jimmy Choo are now up for sale.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/luxusmarken-prada-an-uebernahme-von-versace-interessiert/100099688.html

The labor market report from the USA is significantly better than expected. This could lead to the Fed lowering interest rates more slowly than previously assumed. The unemployment rate fell to 4.1%, expected: 4.2%. A total of 256,000 new jobs were created, compared to an expected 155,000.

https://www.handelsblatt.com/politik/international/konjunktur-us-arbeitsmarktbericht-faellt-ueberraschend-gut-aus/100099726.html

$NLM (+0.12%) Frosta exceeded the profit forecast. As expected, turnover amounted to 638.1 million euros. Profit rose to 42.1 million euros and was thus significantly higher than in the previous year (34.1 million euros). The profit margin was also above expectations at 6.6%.

https://www.4investors.de/nachrichten/amp/boerse.php?sektion=stock&ID=181168

These are the most important dates for the coming week:

🇺🇸

Tuesday: 14:30 Producer prices (USA)

Wednesday: 14:30 Inflation data (USA)

Friday: 15:15 Industrial production (USA)

Can you think of any other dates? Write it in the comments 👇

#termine
#inflation
#industrie
#usa

$NVDA (+1.24%)

• NVIDIA ANNOUNCES PROJECT DIGITS PERSONAL COMPUTER PRICED AT $3,000.

• Nvidia $NVDA CEO Jensen Huang just said he thinks self driving vehicles will likely be the first multi trillion dollar robotics industry

• KION $KGX (+2.19%) NVIDIA and Accenture optimize supply chains with AI-powered robots and digital twins (German)

• Uber $UBER (+0.47%) Teams Up with NVIDIA to Accelerate Autonomous Mobility

• $MU (+1.78%) NVIDIA CEO HUANG: MICRON PROVIDES MEMORY FOR NEW GPUS

• Toyota, Aurora, and Continental Partner with $NVDA NVIDIA for Autonomous Vehicle Revolution

• $NVDA Nvidia Launches Cosmos World Foundation Model Platform to Accelerate the Development of Physical AI

Nvidia Cosmos is a platform of state-of-the-art generative World Foundation

models (WFM), advanced tokenizers, guardrails and an accelerated

accelerated data processing and curation pipeline that enables the

development of physical AI systems such as autonomous vehicles (AVs) and

• robots

Analsyst updates, 06.12.

⬆️⬆️⬆️

• BERNSTEIN raises the price target for SIEMENS from EUR 220 to EUR 227. Outperform. $SIE (+1.29%)
• JPMORGAN raises the target price for SIEMENS ENERGY from EUR 38.70 to EUR 44. Neutral. $ENR (+1.2%)
• JEFFERIES upgrades BMW from Hold to Buy and raises target price from EUR 80 to EUR 85. $BMW (+1.45%)
• ODDO BHF raises the price target for AURUBIS from EUR 70 to EUR 76. Neutral. $NDA (-0.87%)
• UBS raises target price for AUTO1 from EUR 9.80 to EUR 20.50. Buy. $AG1 (+2.49%)
• UBS raises the target price for NORDEA from SEK 144 to SEK 145. Buy. $NDA FI (+0.13%)
• DEUTSCHE BANK RESEARCH raises the price target for FREENET from EUR 34 to EUR 36. Buy. $FNTN (-0.45%)
• 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 (+2.93%)
• JPMORGAN raises the target price for SALZGITTER from EUR 11.50 to EUR 14.10. Underweight. $SZG (-0.5%)
• JPMORGAN raises the price target for SCHNEIDER ELECTRIC from EUR 270 to EUR 275. Overweight. $SU (+2.33%)
• JPMORGAN raises the price target for KNORR-BREMSE from EUR 88 to EUR 92. Overweight. $KBX (+0.69%)
• MORGAN STANLEY upgrades HANNOVER RÜCK to Overweight. Target price EUR 292. $HNR1 (-0.67%)
• JPMORGAN raises the target price for COMMERZBANK from EUR 18.40 to EUR 19.50. Overweight. $CBK (-1.51%)

⬇️⬇️⬇️

• GOLDMAN lowers the price target for LVMH from EUR 770 to EUR 720. Buy. $MC (-0.33%)
• MORGAN STANLEY downgrades MUNICH RE to Equal-Weight. Target price 523 EUR. $MUV2 (-0.48%)
• JEFFERIES downgrades MERCEDES-BENZ from Buy to Hold and lowers target price from EUR 73 to EUR 60. $MBG (+1.21%)
• ODDO BHF lowers the price target for DELIVERY HERO from EUR 43 to EUR 38. Neutral. $DHER (+3.63%)
• WARBURG RESEARCH lowers the price target for COMPUGROUP from EUR 31 to EUR 24.50. Buy. $COP (+0.64%)
• JPMORGAN lowers the price target for VESTAS from DKK 143 to DKK 123. Neutral. $VWS (-0.56%)
• JPMORGAN lowers the price target for KION from EUR 44 to EUR 43. Overweight. $KGX (+2.19%)
• MORGAN STANLEY downgrades ORSTED to Equal-Weight. Target price DKK 480. $ORSTED (-1.51%)

Analyst updates, 29.11.

⬆️⬆️⬆️

- BOFA raises the price target for SIEMENS ENERGY from EUR 48 to EUR 52. Neutral. $ENR (+1.2%)

- GOLDMAN raises the target price for DEUTSCHE TELEKOM from EUR 37 to EUR 39. Buy. $DTE (-1.04%)

- BERENBERG raises the price target for PFIZER from USD 27 to USD 29. Hold. $PFE (+0.74%)

- JPMORGAN raises the target price for JUST EAT TAKEAWAY from GBP 14.15 to GBP 16.02. Overweight. $TKWY (+0%)

- WARBURG RESEARCH raises the target price for RATIONAL from EUR 800 to EUR 810. Hold. $RAA (-0.44%)

- BOFA upgrades SCHNEIDER ELECTRIC from Underperform to Neutral and raises target price from 175 EUR to 255 EUR. $SU (+2.33%)

- BOFA raises the price target for NORDEX from 17.90 EUR to 19.30 EUR. Buy. $NDX1 (+1.73%)

- BERENBERG raises the target price for ZALANDO from EUR 29.70 to EUR 38. Buy. $ZAL (-3.32%)

- WARBURG RESEARCH upgrades WACKER NEUSON from Hold to Buy. Target price EUR 17. $WAC (+0.98%)

- WARBURG RESEARCH raises the price target for ALZCHEM from EUR 75 to EUR 77.50. Buy. $ACT (+0.39%)

- ODDO BHF upgrades NORMA GROUP from Neutral to Outperform. Target price EUR 18.10. $NOEJ (-0.18%)

- BOFA raises the price target for KNORR-BREMSE from EUR 68 to EUR 70. Underperform. $KBX (+0.69%)

- BOFA upgrades ABB to Buy. $ABBNY (+0.88%)

- BOFA upgrades KION from Neutral to Buy and raises target price from EUR 39.50 to EUR 48.50. $KGX (+2.19%)

- BOFA upgrades JUNGHEINRICH from Underperform to Neutral and raises target price from EUR 24 to EUR 26. $JUN3 (+0.29%)

- BERENBERG raises the price target for GLOBAL FASHION GROUP from EUR 0.23 to EUR 0.27. Hold. $GFG (+0.35%)

- HSBC raises the price target for DEUTSCHE BÖRSE from EUR 230 to EUR 236. Buy. $DB1 (+0.3%)

⬇️⬇️⬇️

- KEPLER CHEUVREUX lowers the price target for HUGO BOSS from EUR 59 to EUR 41. Buy. $BOSS (+0.15%)

- BOFA downgrades GENERALI from Neutral to Underperform and raises target price from EUR 26 to EUR 27. $G (+0.35%)

- DEUTSCHE BANK RESEARCH lowers the price target for L'OREAL from EUR 335 to EUR 280. Sell. $OR (-1.47%)

- BOFA lowers the target price for BAE SYSTEMS from GBP 13.75 to GBP 12.40. Underperform. $BA. (+1.63%)

- BERENBERG lowers the price target for ALLGEIER from EUR 22 to EUR 19. Buy. $0RQZ