In the current issue, "Der Aktionär" recommends these dividend stocks.

For a peaceful night's sleep (conservative):

• E.On $EOAN (+0,41 %)
• Johnson & Johnson $JNJ (+2,12 %)
• Munich Re $MUV2 (-0,6 %)
• PepsiCo $PEP (+3,26 %)
• Procter & Gamble $PG (+2,23 %)

Top dividend with medium risk can be seen in:

• Andritz $ANDR (-1,04 %)
• Freenet $FNTN (+0,91 %)
• Imperial Brands $IMB (-2,32 %)
• Traton $8TRA (-0,07 %)

Dividends with a yield kick are located in these shares:

• Frontline $FRO (-1,8 %)
• Petrobas $PETR3 (-1,16 %)
• Repsol $REP (-2,09 %)
• Stellantis $STLAM (-0,34 %)

Source: Der Aktionär, Issue 08.2025

Analyst updates, 04.12.

⬆️⬆️⬆️

- BARCLAYS raises the price target for SIEMENS from EUR 125 to EUR 130. Underweight. $SIE (-0,45 %)

- BARCLAYS raises the target price for SIEMENS ENERGY from EUR 35 to EUR 36. Equal-Weight. $ENR (-4,27 %)

- JEFFERIES raises the target price for ADYEN from EUR 1695 to EUR 1797. Buy. $ADYEN (-0,84 %)

- JPMORGAN raises the target price for SALESFORCE from USD 340 to USD 380. Overweight. $CRM (-2,41 %)

- HSBC raises the target price for ZALANDO from EUR 37 to EUR 40. Buy. $ZAL (-1,25 %)

- JPMORGAN raises the target price for RHEINMETALL from EUR 680 to EUR 800. Overweight. $RHM (-1,89 %)

- DEUTSCHE BANK RESEARCH raises the target price for COCA-COLA HBC from GBP 31.50 to GBP 32. Buy. $CCH (+0,93 %)

- BARCLAYS raises the target price for KNORR-BREMSE from EUR 55 to EUR 60. Underweight. $KBX (+0,71 %)

- BARCLAYS raises the price target for ABB from CHF 40 to CHF 42. Underweight. $ABBNY (-0,56 %)

- BARCLAYS raises the price target for ALSTOM from EUR 8 to EUR 9. Underweight. $ALO (-2,19 %)

- HSBC upgrades MERCK & CO to Buy. Target price USD 130. $MRK (+2,28 %)

- JPMORGAN raises the target price for DSV from DKK 1685 to DKK 1800. Overweight. $DSV (-1,62 %)

- JPMORGAN raises the target price for LUFTHANSA from EUR 4.80 to EUR 5.50. Underweig$LHA (-0,44 %)

- UBS raises the target price for AROUNDTOWN from EUR 2 to EUR 3.30. Neutral. $AT1 (+0,28 %)

⬇️⬇️⬇️

- JPMORGAN lowers the target price for DHL GROUP from EUR 47 to EUR 42.50. Overweight. $DHL (+0,55 %)

- WARBURG RESEARCH lowers the target price for UNITED INTERNET from EUR 38.50 to EUR 37.30. Buy. $UTDI (+0,66 %)

- WARBURG RESEARCH lowers the target price for 1&1 from EUR 23.50 to EUR 19.10. Buy. $1U1 (+1,37 %)

- WARBURG RESEARCH lowers the target price for KWS SAAT from EUR 89 to EUR 88. Buy. $KWS (+1,18 %)

- DEUTSCHE BANK RESEARCH downgrades HEINEKEN from Buy to Hold and lowers target price from EUR 95 to EUR 76. $HEIA (+0,74 %)

- EXANE BNP lowers the price target for SCHOTT PHARMA from EUR 36 to EUR 28. Neutral. $1SXP (+1,99 %)

- BARCLAYS downgrades SIGNIFY to Underweight. Target price EUR 18. $LIGHT (+0,14 %)

- CFRA downgrades BRISTOL-MYERS SQUIBB to Hold. Target price USD 60. $BMY (+0,76 %)

- MORGAN STANLEY downgrades MOLLER-MAERSK to Underweight. Target price DKK 12200. $AMKBY (-1,51 %)

- BARCLAYS downgrades ANDRITZ to Underweight. Target price EUR 40. $ANDR (-1,04 %)

- JPMORGAN lowers the price target for HAPAG-LLOYD from EUR 85 to EUR 80. Underweight. $HLAG (-0,6 %)

Hello everyone,

I am currently trying to optimize my portfolio and possibly also to compromise.

Perhaps you have any suggestions or ideas as to what can be improved

I'm currently saving around €1000 a month in my ETFs and another €600 in equities ( $RWE (+1,08 %) I have newly taken up and $KCO (+0,4 %) no longer saved)

I currently have the following in my savings plan

$ANDR (-1,04 %)

I think Andritz is well positioned for the future, especially for the electrification of all possible processes and also in the H2 area, plus a solid dividend of currently €2.5 per share.

$SBMO (+0,68 %)

As an operator and builder of drilling rigs, they will still have a good market in the future

$KO (+2,3 %)

One of my favorite stocks. A secure market environment with an established brand. They have also been regularly increasing their dividend for around 70 years

$RWE (+1,08 %)

The share has suffered massively recently and has a lot of catch-up potential. In addition, there are investments in renewable energies (mainly in the USA) and a secure business model.

$2020 (-1,34 %)

A rather unknown brand that includes FILA. Here too, I think that the South-East Asian market in particular will become more interesting in the future

$SHEL (-1,69 %)

My last energy company in the savings plan. Of the oil companies, Shell has promising strategies for the future and a very positive development

$AIL

High dividend, moderate share price performance

$ANDR (-1,04 %) Stocked up. After excellent figures and a dividend increase to €2.50 per share, the share price fell by up to 6.5%. Presumably because this year's growth is forecast to be lower. In principle, however, the Group is pursuing ambitious targets until 2026: Increase sales to over €10bn, EBITA margin over 9%, net profit over 6% of sales, continue successful M&A strategy.

Source: andritz.com

𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️

𝗜𝗣𝗢𝘀 🔔

Stepstone - Axel Springer ( $AXELF ) wants to continue preparations for the IPO of job portal Stepstone. Goldman Sachs ( $GOS (-2,21 %) ) and Morgan Stanley ( $DWD (-1,6 %) ) have been chosen to lead the transaction, which could take place in the second quarter of 2022. Under the offer, Stepstone could be valued at around seven billion euros. This would correspond to 25 times the operating profit (EBITDA) of around 300 million euros expected for 2023. The job portal's business has been doing very well recently and has been able to post annual growth of 20 percent over the past ten years.

𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅

Ex-dividend date: Apple Inc ( $APC (+0,26 %) ), AmeriServ Financial Inc ( $ASRV ), Brink's ( $PTY (-0,57 %) ), Clarus ( $BDO (-0,44 %) ), Core Laboratories ( $CEI ), Federated Hermes ( $3KC (-0,82 %) ), First Interstate BancSystem ( $4FB (-2,61 %) ), W. W. Grainger ( $GWW (-1,21 %) ), Janus Henderson ( $HDJA (+2,24 %) ), Lazard ( $LAZ ), Louisiana Pacific ( $LP3 (-2,74 %) ), US Steel ( $USX1 (-2,22 %) ) and Xilinx ( $XIX ).

𝗖𝗵𝗶𝗳𝗳𝗿𝗲𝘀 𝘁𝗿𝗶𝗺𝗲𝘀𝘁𝗿𝗶𝗲𝗹𝘀📈

Today 11880 Solutions ( $TGT (-0,33 %) ), Andritz AG ( $AZ2 (-1,04 %) ), Amadeus IT Group ( $AI3A (-1,33 %) ), Asahi Kasei ( $ASAA (+2,1 %) ), Berkshire Hathaway ( $BRYN (-0,13 %) ), Data Modul ( $DAM (+0 %) ), GS Yuasa ( $G9Y (+3,4 %) ), Honda ( $HDMA (+0 %) ), Johnson Controls ( $TYIA (-3,23 %) ), Kikkoman ( $KIK (+1,93 %) ), Kobe Steel ( $KST (+0,85 %) ), Krones AG ( $KRN (+0,97 %) ), Mitsubishi ( $MBI (+0,45 %) ), Nippon Paper Industries ( $9NI (-0,77 %) ), Olympus ( $OCPNY ), Rheinmetall ( $RHM (-1,89 %) ), Sempra Energy ( $SE4 (+1,67 %) ), TLG Immobilien ( $TLG (+0 %) ) and Uniper ( $UN01 ) present their figures.

𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️

United Internet ( $UTDI (+0,66 %) ) - Ralph Dommermuth wants to buy United Internet for 35 euros per share. This means that he would own more than half of the Internet group. The manager wants to acquire 17 million United Internet shares, either via an existing company or via a new company he controls. The share price, which was close to 37 euros in September, had fallen by about 5 euros by the end of October. United Internet had announced in mid-September that it wanted to end the share buyback prematurely due to low trading volumes. However, it is still unclear whether Dommermuth will actually buy the company.

Platoon ( $2ON (-5,46 %) ) - The surplus demand for exercise bikes due to Corona's crisis is over. Last quarter, the fitness equipment maker posted a $376 million loss. That forced Peloton to lower its revenue forecast for the current year and subscriber growth. Investors reacted immediately, and the stock dropped about 33% within a day.

Varta ( $VAR1 (-11,98 %) ) - The battery maker lowered its sales forecast for the current fiscal year due to production difficulties at some suppliers. In response, the stock price fell about 19%.

𝗖𝗿𝘆𝗽𝘁𝗼 💎

New York City - New York City's new (Democratic) mayor, Eric Adams, discussed in an interview, a day after his official election, his plan to introduce a coin for the city. This is supposed to be one of the first steps in transforming New York into a crypto-currency-friendly city. In addition, he announced that he wants to receive his first 3 salaries in the form of crypto-currencies. He has also already met with Miami Mayor Francis Suarez, who is known for his positive attitude towards crypto-currencies and who last week also requested that his salary be paid 100% in bitcoins. Miami already has its own City Coin, which is indeed very popular. Francis and Adams have now decided to engage in a friendly competition to see which of the two cities can show the most progress in the crypto space. Adams' goal is for New York to maintain its reputation as the financial capital of the crypto-currency era.

Commonwealth Bank ( $CWW (-3,3 %) ) - Australia's largest bank said the day before that they are working to make bitcoin and other crypto-currencies tradable for their customers in the coming weeks. In addition, they said that they also want to offer their customers to store crypto-currencies for them. Initially, only Bitcoin ($BTC-EUR), Bitcoin Cash ($BCH-EUR), Ethereum ($ETH-USD) and Litecoin ($LTC-EUR) will be available. The implementation will be done in collaboration with Gemini, a U.S.-based company specializing in crypto asset custody. Commonwealth Bank is by far the largest financial institution on the continent, with total assets of $688.4 billion, so this news is a big step for the crypto industry.

🤜🏼🤜🏼🤜🏼 @MarketNewsUpdate

𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️

𝗦𝘁𝗲𝗽𝘀𝘁𝗼𝗻𝗲𝘀 𝗜𝗣𝗢 / 𝗘𝗹𝗲𝗸𝘁𝗿𝗼𝗿𝗮𝗱 𝗶𝗺 𝗞𝗲𝗹𝗹𝗲𝗿 / 𝗟𝗲𝗲𝗿𝗲 𝗕𝗮𝘁𝘁𝗲𝗿𝗶𝗲 / 𝗚𝗲𝗵𝗮𝗹𝘁 𝗶𝗻 𝗞𝗿𝘆𝗽𝘁𝗼

𝗜𝗣𝗢𝘀 🔔

Stepstone - Axel Springer ($AXELF) wants to push ahead with preparations for an IPO of the job ad portal Stepstone. Goldman Sachs ($GOS (-2,21 %)) and Morgan Stanley ($DWD (-1,6 %)) have been selected to lead-manage the transaction, which could take place in the second quarter of 2022. The issue could value Stepstone at around EUR seven billion. This would correspond to 25 times the operating profit (EBITDA) of around EUR 300 million expected for 2023. The job portal's business has been going very well recently and it has been able to show annual growth of 20 percent over the last ten years.

𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅

As of today, Apple Inc. ($APC (+0,26 %)), AmeriServ Financial Inc. ($ASRV), Brink's ($PTY (-0,57 %)), Clarus ($BDO (-0,44 %)), Core Laboratories ($CEI), Federated Hermes ($3KC (-0,82 %)), First Interstate BancSystem ($4FB (-2,61 %)), W. W. Grainger ($GWW (-1,21 %)), Janus Henderson ($HDJ), Lazard ($LAZ), Louisiana Pacific ($LP3 (-2,74 %)), US Steel ($USX1 (-2,22 %)) and Xilinx ($XIX) traded ex-dividend.

𝗤𝘂𝗮𝗿𝘁𝗮𝗹𝘀𝘇𝗮𝗵𝗹𝗲𝗻 📈

Today, among others, 11880 Solutions ($TGT (-0,33 %)), Andritz AG ($AZ2 (-1,04 %)), Amadeus IT Group ($AI3A (-1,33 %)), artnet ($ART (+5,69 %)), Asahi Kasei ($ASAA (+2,1 %)), Berkshire Hathaway ($BRYN (-0,13 %)), Chiyoda Kakō Kensetsu ($CYA (+1,95 %)), Data Modul ($DAM (+0 %)), GS Yuasa ($G9Y (+3,4 %)), Honda ($HDMA (+0 %)), Johnson Controls ($TYIA (-3,23 %)), Kikkoman ($KIK (+1,93 %)), Kobe Steel ($KST (+0,85 %)), Krones AG ($KRN (+0,97 %)), Mitsubishi ($MBI (+0,45 %)), Nippon Paper Industries ($9NI (-0,77 %)), Olympus ($OCPNY), Rheinmetall ($RHM (-1,89 %)), Sempra Energy ($SE4 (+1,67 %)), TLG Immobilien ($TLG (+0 %)) and Uniper ($UN01) presented their figures.

𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️

United Internet ($UTDI (+0,66 %)) - Ralph Dommermuth aims to take over United Internet for EUR 35 per share. This would give him more than half of the Internet group. The manager would like to acquire 17 million United Internet shares either via an existing company or a newly founded one controlled by him. The share price of almost EUR 37 in September had fallen by around EUR 5 by the end of October. United Internet had announced in mid-September that it intended to end its share buyback prematurely due to low trading volumes. However, it is still uncertain whether Dommermuth's purchase will actually take place.

Peloton ($2ON (-5,46 %)) - The upswing of exercise bikes due to the Corona crisis is over. In the last quarter, the fitness equipment manufacturer posted a loss of $376 million. In the wake of that, Peloton lowered both its expected revenue for the current fiscal year and its subscriber growth. Investors reacted immediately and the stock fell by about 33% in the course of one day.

Varta ($VAR1 (-11,98 %)) - The battery company lowered its sales forecast for the current fiscal year due to production difficulties at some suppliers. In response, the share slumped by around 19%.

𝗖𝗿𝘆𝗽𝘁𝗼 💎

New York City - New York Mayor-elect (Democrats) Eric Adams spoke in an interview a day after his official election about his plans to introduce a City Coin for the city. This is said to be one of the first steps in transforming New York into a crypto-friendly city. Furthermore, he announced that he wants to receive his first 3 paychecks in the form of cryptocurrencies. He also said that he has already met with Miami Mayor Francis Suarez, who is known for his positive attitude towards cryptocurrencies and also called for his salary to be paid 100% in Bitcoin last week. Miami already has its own City Coin, which is indeed very popular. Francis and Adams now decided to try a friendly competition to see which of the two cities can show greater progress in the crypto space. Adams' goal is for New York to continue to maintain its reputation as a financial capital in the age of cryptocurrencies.

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