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/hywPiISUD-k?si=1w7z3o-eGUTg2jX-

Monday:

Slightly better economic data from China 🇨🇳. Industrial production is up, but Chinese consumption continues to cause problems. The growth rate in the retail sector was two percentage points below economists' estimates. The reason for this is the ongoing real estate crisis.

https://www.handelsblatt.com/politik/international/china-wirtschaft-zeigt-leichte-anzeichen-einer-stabilisierung/100095026.html

The Purchasing Managers' Index in Germany is worse than expected. Values above 50 signal growth, values below signal contraction. The index currently stands at 47.8 points, higher than in November but worse than expected. However, the manufacturing sector continues to plummet to 42.5 points. The service sector is at 51 points.

https://finanzmarktwelt.de/einkaufsmanagerindex-2-332850/?amp

Tuesday:

Several insider purchases at $TMV (-2,93 %) Teamviewer, after the share was sold off due to the 1E purchase. We ourselves hold the share in our value portfolio.

https://www.finanzen.net/insidertrades/teamviewer

Retail sales in the USA 🇺🇸 are slightly above expectations. Compared to the previous month, they increased by 0.7%, while experts had expected 0.6%. Car sales in particular were higher than expected.

https://www.boerse.de/nachrichten-amp/USA-Einzelhandelsumsaetze-steigen-etwas-staerker-als-erwartet/36816240

Wednesday:

The equipment manufacturer $M5Z (-15,32 %) Manz slides into insolvency. Most recently, the company focused on production technology for battery factories. However, the boom in battery factories was not quite as strong as expected. The share is down more than 80% today. In 2021, the share was still trading at more than 70 euros.

https://www.handelsblatt.com/unternehmen/industrie/manz-anlagenbauer-aus-reutlingen-geht-in-die-insolvenz-aktie-bricht-ein/100095591.html

The Fed cuts interest rates again by a quarter of a percentage point, but holds out the prospect of fewer rate cuts in the coming year.

https://www.instagram.com/p/DDux4v5TQZi/?igsh=YnM0c2ljamdka3Rq

Thursday:

The US economy is growing more strongly than previously thought, with consumer spending in particular boosting growth. Consumer spending rose by 3.7% in the third quarter. GDP increased by 3.1 %. Exports also exceeded preliminary estimates. This means that the Fed is unlikely to cut interest rates more than twice in the coming year.

https://www.benefitsandpensionsmonitor.com/news/industry-news/us-economy-grows-at-31-as-spending-and-exports-boost-gdp/390462

Friday:

Today, however, there is a direct counter-indicator with regard to the Fed's decision. Inflation in the USA 🇺🇸 is rising, but less strongly than expected. At 2.4%, inflation was only slightly higher than in October (2.3%).

https://www.handelsblatt.com/finanzen/geldpolitik/us-inflationsdaten-preisdruck-in-den-usa-nimmt-zu-anstieg-niedriger-als-erwartet/100095969.html

Key dates for the coming week:

Monday: 08:00 GDP figures (UK)

Tuesday: 14:30 Industrial orders (USA)

Friday: 00:30 Inflation data (Japan)

What other important dates can you think of?

#bip
#usa
#industrie
#inflation
#japan

⬆️⬆️⬆️

- DEUTSCHE BANK RESEARCH raises the price target for NIKE from USD 82 to USD 84. Buy. $NKE (-6,85 %)

- RBC raises the price target for ALPHABET A SHARE from USD 210 to USD 235. Outperform. $GOOGL (+0,94 %)

- RBC raises the price target for AMAZON from USD 225 to USD 255. Outperform. $AMZN (+0,26 %)

- RBC raises the price target for META from USD 630 to USD 700. Outperform. $META (-2,23 %)

- ODDO BHF raises the target price for MUNICH RE from EUR 540 to EUR 555. Outperform. $MUV2 (-1,1 %)

- ODDO BHF upgrades HERMES to Neutral. Target price EUR 2315. $RMS (+0,75 %)

- ODDO BHF raises the target price for AIRBUS from EUR 168 to EUR 180. Outperform. $AIR (-0,84 %)

- ODDO BHF raises the price target for FRAPORT from EUR 58 to EUR 61. Outperform. $FRA (+5,53 %)

- JPMORGAN raises the target price for FEDEX from USD 366 to USD 370. Overweight. $FDX (-8,08 %)

⬇️⬇️⬇️

- GOLDMAN lowers the price target for NIKE from USD 97 to USD 91. Buy. $NKE (-6,85 %)

- BOFA lowers the price target for NIKE from USD 95 to USD 90. Buy. $NKE (-6,85 %)

- ODDO BHF downgrades CARBIOS to Neutral. $ALCRB (+3,49 %)

- KEPLER CHEUVREUX lowers the price target for LANXESS from EUR 31 to EUR 30. Buy. $LXS (-0,26 %)

- HAUCK AUFHÄUSER IB lowers the target price for DEUTZ from EUR 8.50 to EUR 7. Buy. $DEZ (-1,18 %)

- BARCLAYS lowers the price target for VERTEX from USD 509 to USD 418. Equal-Weight. $VRTX (-0,44 %)

- GOLDMAN lowers the price target for BIRKENSTOCK from 59.10 USD to 57.90 USD. Neutral. $BIRK (+4,23 %)

- GOLDMAN downgrades TEAMVIEWER from Buy to Neutral and lowers target price from EUR 17 to EUR 12. $TMV (-2,93 %)

Goldman lowers Teamviewer to 'Neutral' - target down to 12 euros + Hornbach Holding adjusts sales forecast + Nike outperforms in second fiscal quarter + Today is big expiration day

Downgrade for Teamviewer $TMV (-2,93 %)

• The US investment bank Goldman Sachs has downgraded Teamviewer from "Buy" to "Neutral" and lowered its target price from 17 to 12 euros.
• Analyst Mohammed Moawalla wrote on Thursday evening that his buy recommendation was based, among other things, on the prospect of share buybacks.
• However, distributions have become more uncertain in view of the takeover of 1E.
• However, Moawalla remains optimistic about the company's growth potential.

Key figures HORNBACH Holding AG & Co. KGaA Group $HBH (-12,53 %)

• Hornbach Holding adjusts its sales forecast for the 2024/25 financial year to the previous year's level, while the forecast for adjusted earnings before interest and taxes (EBIT) is confirmed.
• Third-quarter sales increase by 1.3 percent to EUR 1.505 billion thanks to the European business, while EBIT falls by 28 percent to EUR 34.6 million, mainly due to wage increases

Nike $NKE (-6,85 %)
with quarterly figures

• Nike exceeds analysts' expectations in the second quarter with sales of 12.35 billion dollars, although sales fell by 8 percent year-on-year.
• Profit falls by 26 percent to 1.16 billion dollars, while the share price rises by around 8 percent in after-hours trading.

Friday: Stock market dates, economic data, quarterly figures

Big expiry day

• ex-dividend of individual stocks

Hewlett Packard Enterprise 0.13 USD

British American Tobacco USD 0.74

• Quarterly figures / company dates Europe

07:00 Hornbach Holding AG Quarterly figures

• Economic data

08:00 DE: Producer prices November FORECAST: +0.3% yoy/-0.3% yoy previously: +0.2% yoy/-1.1% yoy

08:00 UK: Retail Sales November OUTLOOK: -0.3% yoy/+1.5% yoy previous: -0.7% yoy/+2.4% yoy

12:00 DE: Expiry futures and options STOXX family (Eurex)

13:00 DE: Expiry DAX futures and options (Eurex)

13:00 DE: Expiry TecDAX futures and options (Eurex)

14:30 US: Personal Spending and Income November Spending / Income FORECAST: +0.5% yoy/+0.4% yoy previous: +0.4% yoy/+0.6% yoy PCE Price Index / Total Rate FORECAST: +0.2% yoy/+2.5% yoy previous: +0.2% yoy/+2.3% yoy PCE price index / core rate PROGNOSE: +0.2% yoy/+2.9% yoy PREV: +0.3% yoy/+2.8% yoy

16:00 EU: Eurozone Consumer Confidence Index (flash estimate) December FORECAST: -14.0 previous: -13.7

16:00 US: Index Consumer Sentiment Uni Michigan (2nd survey) December FORECAST: 74.0 1st survey: 74.0 PREVIOUS: 71.8

17:20 DE: Expiry SMI future (Eurex)

17:30 DE: Expiry equity options (Eurex)

21:15 US: Expiry e-mini Nasdaq future | e-mini S&P future

At $TMV (-2,93 %) Teamviewer recently saw two insider purchases. We have the stock in our value portfolio ourselves. This year there were share buybacks amounting to 150 million euros. After the acquisition of 1E, however, the share price fell significantly.

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/qddXVLwZJxA?si=fuYDrtqdo6eoQnvb

Monday:

After various announcements, China is apparently getting serious and actually changing its monetary policy, for the first time in 14 years. The central bank is to pursue a looser monetary policy, meaning interest rate cuts to stimulate the economy. Stocks in China and luxury companies are also benefiting from the news.

https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-china-lockert-seine-geldpolitik-und-will-konsum-ankurbeln/100093699.html

$CON (-0,02 %) Continental is following the path of many suppliers. The tire business (which has a promising future) is being spun off from the traditional supplier business. In this way, Continental is ensuring that the company will survive the end of the combustion engine.

https://www.handelsblatt.com/unternehmen/industrie/autozulieferer-continental-vorstand-beschliesst-abspaltung-des-zulieferergeschaefts/100093743.html

Tuesday:

The company $TMV (-2,93 %) Teamviewer is under pressure following the purchase of London-based software specialists 1E. Teamviewer is buying 1E for around 720 million euros, which would be the largest acquisition in the history of the Göppingen-based company. Products from 1E can probably detect and rectify software problems at an early stage. Well-known customers include Adidas, Nike and AT&T.

https://m.focus.de/finanzen/boerse/software-konzern-expandiert-teamviewer-uebernimmt-softwarefirma-1e_id_260549204.html

Inflation in Germany remains above the ECB's 2% target for the time being. According to the HICP, inflation in November was 2.2% compared to the previous year.

https://www.handelsblatt.com/politik/konjunktur/teuerungsrate-inflation-wieder-ueber-zwei-prozent-marke/100093884.html

Wednesday:

$ZAL (-0,7 %) Zalando buys its direct competitor $YOU (+0,31 %) About You for 1.1 billion euros. The reason for the consolidation is the growing competition from China, e.g. Shein and Temu. Zalando pays a hefty premium of 65% on the last stock market price.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/zalando-moderiese-kauft-konkurrenten-about-you-von-otto-gruppe/100094079.html

The Bank of Canada cuts its key interest rate by half a percentage point. This major cut in the prime rate was expected by most experts. The reason for this was poor labor market

https://www.bnnbloomberg.ca/business/economics/1970/01/01/bank-of-canada-cuts-key-interest-rate-by-50-bps-to-325/

Thursday:

The Kiel Institute for the World Economy also expects 0% growth in Germany in 2025. Stefan Kooth, economist and Head of the Forecasting Center at the IfW, is calling for a move away from interventionism in economic policy and for better framework conditions instead. In this context, he takes a positive view of the idea of more Musk and Milei.

https://www.handelsblatt.com/politik/konjunktur/stefan-kooths-solche-werte-sehen-wir-sonst-nur-bei-massiven-schocks/100093744.html

The ECB cuts the deposit rate again to 3.0%. This is the fourth rate cut we have seen this year.

https://www.n-tv.de/wirtschaft/EZB-schraubt-Zinsen-weiter-nach-unten-article25428364.html

Most important dates in the coming week:

Monday: 9:30 Purchasing Managers' Index (DE)

Wednesday: 20:00 Interest rate decision (USA)

Thursday: 14:30 Economic data (USA)

What other important dates can you think of?

#index
#usa
#fed
#zinsen

13.12.2024

ECB lowers interest rates as expected + Munich Re expects further profit growth in 2025 + Berenberg lowers Teamviewer to 'Hold' - target 13 euros

No surprise in the interest rate policy

• The European Central Bank cuts the deposit rate by 0.25 percentage points to 3.00 percent, in line with forecasts.
• The European Central Bank lowers the main refinancing rate by 0.25 percentage points to 3.15 percent, as expected.
• The European Central Bank lowers the marginal lending rate by 0.25 points to 3.40 percent, in line with forecasts.
• The European Central Bank (ECB) lowers its inflation forecast for 2024 from 2.5% to 2.4%
• The European Central Bank announces that the disinflation process is "well on track".
• The European Central Bank expects the inflation rate to be 2.1% in 2027
• The European Central Bank (ECB) confirms its inflation rate projection for 2026 at 1.9%.
• The European Central Bank lowers its inflation forecast for 2025 from 2.2% to 2.1%.

Reinsurer Munich Re $MUV2 (-1,1 %)expects further profit growth in the coming year

• Munich Re, the world's largest reinsurer, is once again targeting higher profits for the coming year.
• The management of the DAX-listed group is planning a net profit of 6 billion euros in 2025, compared with the target of over 5 billion euros for the current year, as the company announced in Munich on Friday.
• Analysts had previously expected an average profit of 5.9 billion euros in the coming year.
• Munich Re had earned 4.6 billion euros in 2023.
• All business segments should continue to develop well, the Group said.
• The return on investment should improve to over 3.0 percent in 2025.

Teamviewer $TMV (-2,93 %)with down rating

• The private bank Berenberg has downgraded Teamviewer from "buy" to "hold" and lowered the target price from 19 to 13 euros.
• Analyst Gustav Froberg justified his reassessment on Friday with concerns regarding the use of capital, which could weigh on the shares for the time being.
• The takeover of 1E makes strategic sense, but it cannot be ruled out that too much money will be sacrificed for it.
• More clarity is needed regarding the effects, also with regard to synergies.

Friday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks

KWS SAAT 0.90 EUR

Walmart USD 0.21

Albemarle USD 0.41

• Quarterly figures / company dates Europe

07:30 Munich Re Outlook 2025

08:30 Munich Re Analyst Conferencez

• Economic data

08:00 DE: Trade balance October Trade balance calendar and seasonally adjusted FORECAST: +18.0 bn euro previous: +17.0 bn euro Exports FORECAST: -3.0% yoy previous: -1.7% yoy Imports FORECAST: -1.0% yoy previous: +2.1% yoy

08:00 UK: GDP month October Forecast: +0.1% yoy previous: -0.1% yoy | Trade Balance October Forecast: n/a previous: GBP -51.1 bn | Industrial Production October Forecast: +0.2% yoy/+0.1% yoy previous: -0.5% yoy/-1.8% yoy

11:00 EU: Industrial Production October Eurozone OUTLOOK: -0.2% yoy/-2.1% yoy previous: -2.0% yoy/-2.8% yoy

14:30 US: Import and export prices November import prices FORECAST: -0.2% yoy previous: +0.3% yoy

11.12.2024

Teamviewer continues to grow + Oracle's quarterly figures received negatively + IPO of Delivery Hero subsidiary Talabat flops

Teamviewer $TMV (-2,93 %)went shopping again, share plummets.

• The shares slumped by 12.2 percent after an acquisition.
• The software company acquired the London-based company 1E, a specialist for digital workplaces, for 720 million dollars.

Oracle $ORCL (-0,32 %)with quarterly figures from the previous evening, left its biggest competitor SAP $SAP (-0,03 %)cold.

• The SAP competitor's figures were slightly below expectations on both the revenue and earnings side.
• It was mainly analysts' comments that moved share prices.
• Analysts from Jefferies and JPMorgan emphasize that Oracle needs stronger growth in the cloud segment for further share price gains.
• Oracle recorded an increase in sales of just under 9 percent in the second quarter, but missed analysts' expectations in terms of profit and growth.
• The stock recorded a 9% increase in sales to 14.06 billion dollars in the second quarter, missing market expectations of 14.11 billion dollars, according to LSEG.
• Despite robust growth in the cloud segment, Morgan Stanley analysts say the company is under scrutiny for how it can translate strong demand into accelerated revenue and sustained double-digit EPS growth.

IPO of Delivery Hero subsidiary $DHER (+3,05 %)Talabat $TALABATflops

• The IPO of Delivery Hero subsidiary Talabat turned out to be a disappointment on the first day of trading.
• Talabat shares were last listed on the Dubai Stock Exchange with a discount of almost seven percent at 1.49 dirhams (0.38 euros). At the start, it had still looked like a successful debut.
• The Talabat share had initially risen by 7.5 percent.
• The parent company has now also lost ground.
• Shares in Delivery Hero lost 9.6 percent to 32.17 euros around midday.
• The Delivery Hero Group had raised the equivalent of almost two billion euros with the offered 20 percent stake in Talabat.
• Originally, the Berlin-based food delivery service wanted to offer 15 percent of its Middle East subsidiary on the market.
• According to Bloomberg data, the IPO was the largest in the region in 2024. Talabat is active in the United Arab Emirates, Qatar and Egypt, among other countries, and delivers food and everyday items.
• In 2023, the business recorded a gross merchandise value (GMV) of more than five billion euros.
• In the first half of 2024, this figure increased by more than a fifth.
• Of the gross merchandise value, more than six percent remained as operating profit adjusted for special effects (EBITDA margin).

Wednesday: Stock market dates, economic data, quarterly figures

• Quarterly figures / company dates USA / Asia

13:00 Exxon Mobil strategy update

13:00 Exxon Mobil analyst and press conference

22:05 Adobe detailed annual results

• Quarterly figures / Company dates Europe

07:00 Tui | Carl Zeiss Meditec detailed annual results

07:30 Inditex 9-month results | Talanx Capital Markets Day press conference

08:00 British American Tobacco Pre-Close Trading Update Annual Results

09:15 Tui PK

10:00 Metro Annual Press Conference & Capital Markets Update

• Economic data

08:00 DE: Domestic Tourism October

11:00 DE: Federal Government, Cabinet Meeting, Berlin

13:00 US: MBA Mortgage Applications

14:30 US: Consumer Prices November PROGNOSE: +0.3% yoy/+2.7% yoy previous: +0.2% yoy/+2.6% yoy Core Consumer Prices PROGNOSE: +0.3% yoy/+3.3% yoy previous: +0.3% yoy/+3.3% yoy

14:30 US: Real income November

15:45 CA: Bank of Canada (BoC), outcome of the Monetary Policy Council meeting Overnight Rate PROGNOSE: n.a. previously: 3.75%

16:30 US: Crude oil inventory data (week) from the Energy Information Administration (EIA)

Analyst updates, 19.11.

⬆️⬆️⬆️

- JEFFERIES raises the price target for NETFLIX from USD 800 to USD 1000. Buy. $NFLX (+0,09 %)

- DEUTSCHE BANK RESEARCH raises the price target for SIEMENS from EUR 200 to EUR 210. Buy. $SIE (-0,29 %)

- DZ BANK raises the price target for WALT DISNEY from USD 115 to USD 130. Buy. $DIS (-0,24 %)

- KEPLER CHEUVREUX raises the target price for ALZCHEM from EUR 69 to EUR 73. Buy. $ACT (-1,9 %)

⬇️⬇️⬇️

- BOFA downgrades SIEMENS from Buy to Neutral and raises target price from EUR 196 to EUR 200. $SIE (-0,29 %)

- BERENBERG lowers the price target for BAYER from EUR 28 to EUR 22. Hold. $BAYN (+0,17 %)

- BERENBERG lowers the price target for SMA SOLAR from EUR 21 to EUR 14. Hold. $S92 (+0,6 %)

- DZ BANK downgrades SHOPIFY from Hold to Sell and raises target price from USD 68 to USD 91. $SHOP (+0,9 %)

- STIFEL lowers the price target for BECHTLE from EUR 50 to EUR 45. Buy. $BC8 (+0,82 %)

- WARBURG RESEARCH lowers the price target for JUNGHEINRICH from EUR 49 to EUR 47. Buy. $JUN3 (-0,4 %)

- HAUCK AUFHÄUSER IB lowers the target price for KNAUS TABBERT from EUR 16 to EUR 8. Sell. $KTA (+0,16 %)

- DEUTSCHE BANK RESEARCH lowers the price target for JOST WERKE from EUR 70 to EUR 60. Buy. $JST (+1,33 %)

- GOLDMAN lowers the price target for TEAMVIEWER from EUR 18 to EUR 17. Buy. $TMV (-2,93 %)

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/I6Spb2-8GPY?si=EkrAKROkkdawQVwE

Monday:

The mood on the employment market has not been this bad for four years. Companies are hardly hiring any new employees. "The autumn revival on the labor market has largely failed to materialize this year," said Andrea Nahles, head of the Federal Employment Agency.

https://www.handelsblatt.com/politik/deutschland/arbeitsmarkt-ifo-beschaeftigungsbarometer-auf-tiefstem-stand-seit-2020/100085716.html

Tuesday:

$BOSS (+0,51 %) HUGO BOSS can make gains in the pre-market, the Q3 figures are convincing. The company was able to increase sales against the market and thus gain further market share. Sales rose by one percent to 1.029 billion euros. Profits, on the other hand, fell slightly to 55 million euros. As a result, the company was able to beat both the sales forecast and the operating profit forecast. The profit was lower than expected.

https://www.finanzen.net/amp/ziele-bestaetigt-hugo-boss-verzeichnet-gewinnrueckgang-trotz-leichtem-umsatzplus-13983161

A purchase offer for $SZG (-0,9 %) Salzgitter caused the share price to explode on Tuesday. The family entrepreneur Günter Papenburg probably wants to take over the steel manufacturer.

https://www.handelsblatt.com/unternehmen/industrie/guenter-papenburg-dieser-hartnaeckige-bauunternehmer-will-salzgitter-kaufen/100086053.html

Wednesday:

Black day for $BMW (+0,87 %) BMW, on the one hand Donald Trump became US President, on the other hand bad quarterly figures. In Q3, BMW earned half a billion euros, 84% less than in the same period last year. Sales slumped by 16%. BMW had to recall 1.5 million cars worldwide due to problems with the brake systems.

https://m.bild.de/regional/muenchen/bmw-gewinn-bricht-um-84-prozent-ein-das-sind-die-gruende-672b1efbc2d148466c895807

Bad share price reaction also at $TMV (-2,93 %) TeamViewer, although the Group was able to significantly increase its profit. This rose by 49 % on an adjusted basis. Revenue also increased by 7 %. The company is targeting the lower end of the forecast range for revenue for the year as a whole. The EBITDA forecast was even raised. RBC leaves the target price at 18 euros after the figures. Why the share fell by more than 10% remains a mystery to us.

https://www.4investors.de/nachrichten/dgap-meldung.php?sektion=dgap&ID=145568

That was it for the traffic lights. It had become apparent. The decisive factor was Lindner's paper calling for a change in economic policy

https://m.bild.de/politik/ausland-und-internationales/medienbericht-scholz-entlaesst-lindner-672bc4edd7f5755b6b3c1920

Thursday:

The FED cut the key interest rate again by 25 basis points. This had been expected. The US economy would grow solidly and the inflation rate would fall towards 2%.

https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-us-notenbank-fed-senkt-leitzins-um-025-prozentpunkte/100086047.html

The Bank of England also cut interest rates by 25 basis points on Thursday. The prime rate there is still at 4.75%.

https://www.bbc.com/news/live/c3rxp879j3xt

Most important dates in the coming week:

Monday: 11:00 ZEW Economic Sentiment (DE)

Tuesday: 14:30 Inflation data (USA)

Thursday: 14:30 Producer prices (USA)

What other important dates can you think of?

#trump
#konjunktur
#inflation
#usa

⬆️⬆️⬆️

- DEUTSCHE BANK RESEARCH raises its price target for BMW from EUR 90 to EUR 95. Buy. $DBK (-1,71 %)

- BERNSTEIN raises the price target for QUALCOMM from USD 200 to USD 215. Outperform. $QCOM (+2,48 %)

- UBS raises the price target for LYFT from USD 13 to USD 18. Neutral. $LYFT (-0,92 %)

- BARCLAYS raises the price target for SIEMENS HEALTH from EUR 60.50 to EUR 62.50. Overweight. $SHL (-1,01 %)

- WARBURG RESEARCH raises the price target for KONTRON from EUR 28 to EUR 28.40. Buy. $KTN (-1,58 %)

- UBS upgrades KINGSPAN GROUP from Neutral to Buy. Target price 90 EUR. $KRX (-0,6 %)

- WARBURG RESEARCH raises the price target for ZEAL NETWORK from EUR 59 to EUR 64. Buy. $TIMA (-1,55 %)

- GOLDMAN raises the price target for VONOVIA from EUR 42.70 to EUR 43.70. Buy. $VNA (+2,37 %)

- BARCLAYS raises the price target for AHOLD DELHAIZE from EUR 30 to EUR 31. Equal-Weight. $AD (-0,59 %)

- BARCLAYS raises the target price for FMC from EUR 38.50 to EUR 39. Equal-Weight. $FMC (+3,73 %)

- JPMORGAN raises the target price for COMMERZBANK from EUR 18 to EUR 18.40. Overweight. $CBK (-1,64 %)

- JPMORGAN raises the target price for PUMA SE from EUR 40 to EUR 44. Neutral. $PUM (-0,32 %)

- JPMORGAN raises the target price for JUST EAT TAKEAWAY from GBP 13.96 to GBP 14.15. Overweight. $TKWY (+0,68 %)

⬇️⬇️⬇️

- JEFFERIES downgrades PALANTIR from Hold to Underperform. Target price USD 28. $PLTR (+6,35 %)

- DEUTSCHE BANK RESEARCH lowers the price target for NOVO NORDISK from DKK 1100 to DKK 1000. Buy. $NOVO B (-17,74 %)

- RBC lowers the price target for NIKE from 82 USD to 80 USD. Sector Perform. $NKE (-6,85 %)

- ODDO BHF downgrades ASM INTERNATIONAL to Outperform. Target price EUR 960. $ASM (+2,02 %)

- KEPLER CHEUVREUX downgrades HENSOLDT from Buy to Hold. Target price EUR 34. $HAG (-0,41 %)

- DEUTSCHE BANK RESEARCH lowers the price target for ZALANDO from EUR 40 to EUR 36. Buy. $ZAL (-0,7 %)

- DEUTSCHE BANK RESEARCH lowers the price target for VESTAS from DKK 165 to DKK 150. Hold. $VWS (-2,71 %)

- BOFA downgrades SIEMENS ENERGY from Buy to Neutral. Target price EUR 40. $ENR (+2,08 %)

- METZLER lowers the price target for VONOVIA from EUR 28.50 to EUR 28. Sell. $VNA (+2,37 %)

- BARCLAYS lowers the price target for TEAMVIEWER from EUR 18 to EUR 15.50. Overweight. $TMV (-2,93 %)

- 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 (-1,36 %)

- WARBURG downgrades EDAG ENGINEERING from Buy to Hold and lowers target price from EUR 13 to EUR 9.50. $ED4 (+0,57 %)

- 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 (+0,54 %)

- BERENBERG lowers the price target for KRONES from EUR 157 to EUR 154. Buy. $KRN (+0,17 %)