Eckert & Ziegler

Analyst updates, 28.11.

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- HAUCK AUFHÄUSER IB raises the price target for ECKERT & ZIEGLER from EUR 55 to EUR 56.50. Buy. $EUZ (+1,36%)

- EXANE BNP raises the target price for FREENET from EUR 30 to EUR 34. Outperform. $FNTN (-1,23%)

- HAUCK AUFHÄUSER IB raises the price target for NORTHERN DATA from EUR 45 to EUR 52. Buy. $NB2 (+1,81%)

- WARBURG RESEARCH raises the price target for PATRIZIA from EUR 9.80 to EUR 9.90. Buy. $PAT (+0,52%)

- DEUTSCHE BANK RESEARCH raises the price target for EASYJET from GBP 6.70 to GBP 7.15. Buy. $EZJ (-0,68%)

- EXANE BNP upgrades TRATON to Outperform. Target price EUR 35. $8TRA (-1,87%)

- JPMORGAN raises the price target for CTS EVENTIM from EUR 101 to EUR 104. Overweight. $EVD (-0,58%)

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- BRYAN GARNIER lowers the price target for LVMH from EUR 800 to EUR 770. Buy. $MC (-0,25%)

- KEPLER CHEUVREUX lowers the price target for PORSCHE SE from EUR 48 to EUR 47. Buy. $PAH3 (+0,42%)

- DEUTSCHE BANK RESEARCH lowers the price target for SYMRISE from EUR 130 to EUR 125. Buy. $SY1 (-0,34%)

- WARBURG RESEARCH lowers the price target for ABO ENERGY from EUR 114 to EUR 110. Buy. $AB9 (-0,28%)

- EXANE BNP lowers the target price for 1&1 from EUR 15 to EUR 12. Neutral. $1U1 (-0,61%)

- EXANE BNP lowers the price target for UNITED INTERNET from EUR 20 to EUR 17. Neutral. $UTDI (-1,53%)

- STIFEL downgrades COMPUGROUP from Buy to Hold and lowers target price from EUR 64 to EUR 18. $COP (+0,05%)

- BARCLAYS lowers the price target for SCHOTT PHARMA from EUR 33 to EUR 27. Equal-Weight. $1SXP (+0,91%)

- UBS lowers the price target for VESTAS from DKK 245 to DKK 175. Buy. $VWS (-2,71%)

Analyst updates, 25.11.

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- MORGAN STANLEY upgrades ROBINHOOD to Overweight. Target price USD 55. $HOOD (+3,38%)

- BARCLAYS raises the price target for DEUTSCHE TELEKOM from EUR 37 to EUR 39.50. Overweight. $DTE (-0,92%)

- BERENBERG raises the target price for SIEMENS ENERGY from EUR 35 to EUR 70. Buy. $ENR (+2,08%)

- UBS raises the target price for RHEINMETALL from EUR 570 to EUR 630. Neutral. $RHM (-0,78%)

- BARCLAYS raises the price target for 1&1 from EUR 17 to EUR 20. Equal-Weight. $1U1 (-0,61%)

- DEUTSCHE BANK RESEARCH upgrades VESTAS from Hold to Buy. $VWS (-2,71%)

- DEUTSCHE BANK RESEARCH raises the price target for VONOVIA from EUR 33 to EUR 38. Buy. $VNA (+2,37%)

- DEUTSCHE BANK RESEARCH raises the price target for TAG IMMOBILIEN from EUR 16 to EUR 18. Buy. $TEG (+2,01%)

- DEUTSCHE BANK RESEARCH upgrades AROUNDTOWN from Sell to Hold. Target price EUR 2.80. $AT1 (+4,46%)

- DEUTSCHE BANK RESEARCH raises the price target for LEG IMMOBILIEN from EUR 90 to EUR 105. Buy. $LEG (+2,8%)

- DEUTSCHE BANK RESEARCH upgrades DEUTSCHE WOHNEN from Hold to Buy and raises target price from EUR 19 to EUR 28. $DWNI (+1,2%)

- STIFEL raises the price target for NOVARTIS from CHF 106 to CHF 109. Hold. $NUVN

- DEUTSCHE BANK RESEARCH upgrades JD SPORTS FASHION from Sell to Hold. $JD. (-1,28%)

- DEUTSCHE BANK RESEARCH raises the price target for ALSTOM from EUR 22 to EUR 25. Buy. $ALO (-0,84%)

- MORGAN STANLEY raises the price target for DEUTSCHE BÖRSE from EUR 213 to EUR 232. Equal-Weight. $DB1 (-0,38%)

- KEPLER CHEUVREUX raises the target price for ECKERT & ZIEGLER from 57.30 EUR to 60.30 EUR. Buy. $EUZ (+1,36%)

- BARCLAYS raises the target price for UNITED INTERNET from EUR 23 to EUR 26. Equal-Weight. $UTDI (-1,53%)

- JEFFERIES raises the price target for HEIDELBERG MATERIALS from 142.10 EUR to 145.50 EUR. Buy. $HEI (-0,69%)

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- DEUTSCHE BANK RESEARCH lowers the price target for KION from EUR 55 to EUR 50. Buy. $KGX (+0,89%)

- DEUTSCHE BANK RESEARCH lowers the price target for CTS EVENTIM from EUR 114 to EUR 106. Buy. $EVD (-0,58%)

- GOLDMAN downgrades ORSTED from Buy to Neutral and lowers target price from DKK 520 to DKK 445. $ORSTED (-0,3%)

- DEUTSCHE BANK RESEARCH lowers the price target for H&M from SEK 200 to SEK 190. Buy. $HM B (+0,73%)

- MORGAN STANLEY lowers the price target for MERCK KGAA from EUR 200 to EUR 190. Overweight. $MRK (-1,77%)

- BARCLAYS lowers the target price for THYSSENKRUPP from EUR 4.40 to EUR 4. Underweight. $TKA (-1,72%)

- MORGAN STANLEY downgrades ING to Equal-Weight. Target price EUR 17.50. $ING (-0,67%)

- JPMORGAN lowers target price for RWE from EUR 48 to EUR 47.50. Overweight. $RWE (-0,18%)

Eckert Ziegler Q3 2024 $EUZ (+1,36%)

Financial performance:

• Sales growth: Sales increased by 17% to € 215.5 million (previous year: € 183.9 million), indicating strong demand, particularly in the medical sector.
• Net income: Net income increased by 15% to 23.4 million euros, reflecting a positive earnings trend.
• EBIT: EBIT before special effects increased by 9.0 million euros to 46.7 million euros, indicating improved operating efficiency.

Balance sheet overview:

• Total assets: Increase to 481 million euros (previous year: 439 million euros), indicating growth and increased investments.
• Equity: Increase of 26.2 million euros to 250.3 million euros.
• Liabilities: Loan liabilities fell by 4.8 million euros to 21.5 million euros, reducing the debt burden.

Details of the profit and loss account:

• Gross profit: Increased to 106.9 million euros (previous year: 89.8 million euros), due to margin improvements and sales growth.
• Cost of sales: Slight increase to 19.8 million euros (previous year: 18.8 million euros).
• General and administrative expenses: Increased to 33.4 million euros (previous year: 28.9 million euros), possibly due to investments in the corporate structure.

Cash flow overview:

• Operating cash flow: Significant increase to 45.1 million euros (previous year: 17.5 million euros), indicating strong cash management.
• Investing activities: Cash outflow reduced to 1.4 million euros (previous year: 19.8 million euros), indicating a more cautious investment policy.
• Financing activities: Outflow of 15.9 million euros, possibly for debt repayment or dividends.

Key figures and profitability metrics:

• Equity ratio: 52%, showing a solid capital base.
• Earnings per share (EPS): Increased to 1.12 euros (previous year: 0.98 euros), adding value for shareholders.

Segment information:

• Medical segment: External sales increased by 26% to 104.5 million euros, driven by demand in the pharmaceutical radioisotope segment.
• Isotope Products segment: Sales increased by 10 % to 111.0 million euros, indicating stable growth in this segment.

Competitive position: The company demonstrates a strong market position in the medical segment, particularly in the area of radioisotopes for pharmaceutical applications, which represents a significant growth area.

Forecasts and management commentary: The management plans to use excess liquidity to finance new projects in the medical segment, which will enable further growth in a segment with high potential.

Risks and opportunities:

• Currency effects: Positive impact on the Group result by 0.4 million euros.
• Discontinued operations: Losses from wound-up business increased from 3.1 million euros to 5.9 million euros, which could have a negative impact on profitability.

Summary of results:

Positive aspects:

• Sales growth: Solid growth of 17%.
• Increased profitability: Net profit increase of 15% and increase in operational efficiency.
• Strong segment growth: The medical segment recorded a 26% increase in sales.
• Improved operating cash flow: Strong cash generation for future investments.
• Stronger equity and reduced debt: Increased financial stability.

Negative aspects:

• Losses from discontinued operations: Increased loss from discontinued operations negatively impacts earnings.
• Higher administrative costs: Possible reduction in efficiency due to increased general costs.
• Slight increase in selling costs: Could put slight pressure on margins.
• Cash outflow from financing activities: Potentially a constraint on investment flexibility.
• Write-downs and depreciation in the "Other" segment: Burden on profitability.

And already my first article 🥳

Today Eckert & Ziegler published $EUZ (+1,36%) published its results for the first nine months of 2024 and reports continued growth. Sales increased by 17% to € 215.5 million compared to the previous year. EBIT (earnings before interest and taxes) from continuing operations increased by 24% to € 46.7 million. Net profit rose by 15% to 23.4 million euros or 1.12 euros per share. The main driver continued to be the pharmaceutical radioisotope business, supplemented by growth in other product groups.

Sales in the Medical Devices segment rose by 26% to 104.5 million euros. The Isotope Products segment achieved an increase of 10% to 111 million euros. The forecast for the year as a whole has been confirmed: The Management Board continues to expect annual sales of around 265 million euros and EBIT of 55 million euros.

In my opinion, this is a solid result with decent sales growth, which illustrates the strength of the company.

More details are available on the company website: Eckert & Ziegler Pressemitteilung .

The news is based on what I personally consider to be reputable sources. However, I do not guarantee their accuracy.

Analyst updates, 05.11.

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- ODDO BHF raises the price target for BIONTECH from USD 110 to USD 130. Outperform. $BNTX (+0,93%)

- BARCLAYS raises the price target for AIRBUS from EUR 161 to EUR 165. Overweight. $AIR (-0,84%)

- CITIGROUP raises the price target for SCOUT24 from EUR 91 to EUR 94.50. Buy. $G24 (+0,54%)

- WARBURG RESEARCH raises the price target for REDCARE PHARMACY from EUR 174 to EUR 176. Buy. $RDC (+1,71%)

- DEUTSCHE BANK RESEARCH raises the price target for RYANAIR from EUR 17 to EUR 17.50. Hold. $RYA (-0,42%)

- BERNSTEIN rates EBAY from Market-Perform to Outperform. Target price USD 70. $EBAY (+0,18%)

- ODDO BHF raises the price target for SALZGITTER from EUR 14 to EUR 15.50. Underperform. $SZG (-0,9%)

- BARCLAYS raises the target price for COMMERZBANK from EUR 16 to EUR 17. Equal-Weight. $CBK (-1,64%)

- BARCLAYS raises the target price for MTU from EUR 295 to EUR 340. Equal-Weight. $MTX (-0,47%)

- MORGAN STANLEY rates LUFTHANSA to Equal-Weight. Target price EUR 7. $LHA (+1,28%)

- BERENBERG raises the price target for DEUTSCHE KONSUM REIT from EUR 3.50 to EUR 5. Hold.

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- GOLDMAN lowers the price target for MERCEDES-BENZ from EUR 65 to EUR 63. Buy. $MBG (-0,07%)

- UBS lowers target price for 1&1 from EUR 21.60 to EUR 21. Buy.

- WARBURG RESEARCH lowers the price target for GFT TECHNOLOGIES from EUR 40 to EUR 37.50. Buy. $GFT (-1,22%)

- HAUCK AUFHÄUSER IB lowers the price target for ECKERT & ZIEGLER from EUR 63.50 to EUR 55. Buy. $EUZ (+1,36%)

- BARCLAYS lowers the price target for BNP PARIBAS from EUR 90 to EUR 85. Overweight. $BNP (-0,42%)

- BERENBERG downgrades SCHNEIDER ELECTRIC from Buy to Hold and lowers price target from EUR 261 to EUR 255. $SU (-0,75%)

- BERENBERG lowers the price target for BEFESA from EUR 41 to EUR 31. Buy. $BFSA (+2,16%)

Hey, why does $EUZ (+1,36%) part of information technology? It's actually pharma, isn't it? @Kundenservice

$PTP (-4,43%) Pentixapharm,

What exactly is the company that was spun off from Eckert and Ziegler? $EUZ (+1,36%) was spun off?

Andreas Eckert - founder of Eckert on this:

4 active ingredients including 2 in phase III and 2 in I/IIa

Target 2027 to bring both phase III diagnostics to market with EUR 55m expenditure.

However, further financing measures are required here.

20.8 million shares + 3.9 million in free float.

Other competitors in the market are

Telix Pharma and $TLX (-2,61%)

Lantheus Holding $LNTH (-0,47%)

Is the spin-off implemented automatically or do I have to book the new securities myself? $EUZ (+1,36%)

Pentixapharm is planning its IPO for October 2024, the first of a biotech company in Germany for eight years.

The company aims to raise up to 23,4 million euros by raising up to 3,9 million new shares at a price of 4,70 to 6,00 Euro will be offered.

The subscription period began on September 24, with the stock market debut on 3. October.

Pentixapharm develops radiopharmaceuticals for diagnosis and therapy of a variety of diseases, especially cancer cancers and inflammatory diseases.

If the placement is completed, a market capitalization of 132,7 million euros is targeted.

In addition, a convertible bond of up to EUR 18.5 million is expected from the parent company Eckert & Ziegler $EUZ (+1,36%) which does not wish to continue financing the clinical development of Pentixapharm.

Who of you is invested in $EUZ (+1,36%) and what do you think of the IPO of Pentixapharm?

Are you selling after the IPO or are you holding on to both companies?

$EUZ (+1,36%) Pentixapharm produces radioisotopes for medical applications, etc.

Pentixapharm, on the other hand, concentrates on the production of radiopharmaceuticals for the diagnosis and treatment of diseases, particularly cancer.

I personally find both companies interesting and will continue to hold both.