$N/A (+0,45 %) +7%

$SIX2 (+0,85 %) +10% after target price increase

FRANKFURT (dpa-AFX) - Deutsche Bank's research division expects positive momentum in sales and earnings at car rental company Sixt. In addition, the company manages residual value risks very well, praised analyst Michael Kuhn and upgraded the share from "Hold" to "Buy" in a study published on Thursday. He left the price target unchanged at EUR 120, which would still mean a plus of 28 percent in view of the approximately eight percent jump in the share price on that day.

"The main reasons for our downgrade of the Sixt share in July 2023 were the negative expected earnings momentum as well as the equally negative development in revenue per day (RPD) and used car prices," explained Kuhn. Now, however, given the midpoint of Sixt's forecast range for pre-tax earnings in the first quarter and the full year, a year-on-year increase is expected for the remainder of the year.