Kloeckner & Co Rights

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- DEUTSCHE BANK RESEARCH raises its price target for BMW from EUR 90 to EUR 95. Buy. $DBK (-3,87%)

- BERNSTEIN raises the price target for QUALCOMM from USD 200 to USD 215. Outperform. $QCOM (+0,3%)

- UBS raises the price target for LYFT from USD 13 to USD 18. Neutral. $LYFT (+1,24%)

- BARCLAYS raises the price target for SIEMENS HEALTH from EUR 60.50 to EUR 62.50. Overweight. $SHL (+0,03%)

- WARBURG RESEARCH raises the price target for KONTRON from EUR 28 to EUR 28.40. Buy. $KTN (-0,32%)

- UBS upgrades KINGSPAN GROUP from Neutral to Buy. Target price 90 EUR. $KRX (+1,02%)

- WARBURG RESEARCH raises the price target for ZEAL NETWORK from EUR 59 to EUR 64. Buy. $TIMA (+0,46%)

- GOLDMAN raises the price target for VONOVIA from EUR 42.70 to EUR 43.70. Buy. $VNA (+3,43%)

- BARCLAYS raises the price target for AHOLD DELHAIZE from EUR 30 to EUR 31. Equal-Weight. $AD (+0,02%)

- BARCLAYS raises the target price for FMC from EUR 38.50 to EUR 39. Equal-Weight. $FMC (+1,47%)

- JPMORGAN raises the target price for COMMERZBANK from EUR 18 to EUR 18.40. Overweight. $CBK (-3,07%)

- JPMORGAN raises the target price for PUMA SE from EUR 40 to EUR 44. Neutral. $PUM (-3,44%)

- JPMORGAN raises the target price for JUST EAT TAKEAWAY from GBP 13.96 to GBP 14.15. Overweight. $TKWY (-1,16%)

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- JEFFERIES downgrades PALANTIR from Hold to Underperform. Target price USD 28. $PLTR (+0,64%)

- DEUTSCHE BANK RESEARCH lowers the price target for NOVO NORDISK from DKK 1100 to DKK 1000. Buy. $NOVO B (-0,19%)

- RBC lowers the price target for NIKE from 82 USD to 80 USD. Sector Perform. $NKE (+0,85%)

- ODDO BHF downgrades ASM INTERNATIONAL to Outperform. Target price EUR 960. $ASM (+0,45%)

- KEPLER CHEUVREUX downgrades HENSOLDT from Buy to Hold. Target price EUR 34. $HAG (+0,11%)

- DEUTSCHE BANK RESEARCH lowers the price target for ZALANDO from EUR 40 to EUR 36. Buy. $ZAL (+1,81%)

- DEUTSCHE BANK RESEARCH lowers the price target for VESTAS from DKK 165 to DKK 150. Hold. $VWS (-1,08%)

- BOFA downgrades SIEMENS ENERGY from Buy to Neutral. Target price EUR 40. $ENR (+1,3%)

- METZLER lowers the price target for VONOVIA from EUR 28.50 to EUR 28. Sell. $VNA (+3,43%)

- BARCLAYS lowers the price target for TEAMVIEWER from EUR 18 to EUR 15.50. Overweight. $TMV (+0%)

- 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 (+0,85%)

- WARBURG downgrades EDAG ENGINEERING from Buy to Hold and lowers target price from EUR 13 to EUR 9.50. $ED4 (+2,48%)

- 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 (-0,57%)

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

+++ Earnings summary this morning, 01.08. +++

Volkswagen (VW) $VOW (-0,6%) achieves sales of €83.3 billion (previous year: €80.1 billion, forecast: €81.9 billion), an operating profit of €5.46 billion (previous year: €5.60 billion, forecast: €5.38 billion) and earnings after tax of €3.63 billion (previous year: €3.79 billion) in Q2. In the outlook for 2024, VW confirms the forecast for sales and deliveries.

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BMW $BMW (-0,99%) achieves sales of €36.9 billion in the 2nd quarter (previous year: €37.2 billion, analyst forecast: €37.4 billion), EBIT (Group) of €3.88 billion (previous year: €4.34 billion, forecast: €3.95 billion) and Group net profit of €2.71 billion (previous year: €2.96 billion, forecast: €2.62 billion). Outlook for 2024 confirmed.

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DHL $DHL (+0,01%) generates Q2 revenue of €20.6 billion (previous year: €20.1 billion, analyst forecast: €20.3 billion), EBIT of €1.4 billion (previous year: €1.7 billion, forecast: €1.3 billion) and net profit of €744 million (previous year: €978 million, forecast: €754 million). Outlook for 2024 and EBIT forecast for 2026 confirmed.

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Vonovia $VNA (+3,43%) achieves average rent per square meter of €1. In the first half of 2024, Vonovia generated an average rent per square meter of € 7.86 (previous year: € 7.58); EBITDA (adjusted) from rental activities of € 1.19 billion (previous year: € 1.21 billion), EBT (adjusted) from continuing operations of € 887.2 million (previous year: € 945.8 million); EBITDA (adjusted) from continuing operations of € 1.27 billion (previous year: € 1.30 billion) and net income for the period of € 1.27 billion (previous year: € 1.30 billion): €945.8 million); EBITDA (adjusted) from continuing operations of €1.27 billion (previous year: €1.30 billion) and a net loss for the period of -€529.2 million (previous year: -€4.13 billion). The vacancy rate in the first half of the year was 2.2% (previous year: 2.2%) and the real estate portfolio value (as at the end of June) was €82.5 billion (previous year: €83.9 billion at the end of 2023). In the outlook for 2024, the company now sees adjusted EBITDA at the upper end of the range of €2.55 billion to €2.65 billion and adjusted EBT at the upper end of the range of €1.7 billion to €1.8 billion

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Elmos Semiconductor $ELG (+0,16%) achieved sales of €142 million (previous year: €136 million), EBIT of €35.9 million (previous year: €34.1 million) and net profit of €24.3 million (previous year: €23.0 million) in the second quarter. Outlook for 2024 confirmed.

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Symrise $SY1 (+1,03%) achieved sales of €2.57 billion in the first half of the year (previous year: €2.41 billion, analyst forecast: €2.56 billion), EBITDA of €529.8 million (previous year: €446 million, forecast: €526.1 million) and net income of €239.5 million (previous year: €187.5 million, forecast: €251.2 million). Outlook for 2024 confirmed.

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HUGO BOSS $BOSS (-0,84%) achieves sales of €1.015 billion in the second quarter (previous year: €1.026 billion, preliminary figures from July 15: €1.015 billion), EBIT (final) of €70 million (previous year: €121 million, preliminary: €70 million) and net profit of €37 million (previous year: €75 million).

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Heidelberger Druck $HDDB achieved sales of €403 million (previous year: €544 million), EBITDA (adjusted) of -€9 million (previous year: +€41 million) and a net result of -€42 million (previous year: +€10 million) in the first quarter. Forecast confirmed.

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Klöckner & Co $KCOB achieved sales of 2.3 million tons in the first half of the year (previous year: 2.1 million tons), EBITDA before material special effects of €83 million (previous year: €130 million) and a consolidated result from continuing operations of -€26 million (previous year: €39 million). In the outlook for 2024, the company expects a slight decline in sales compared to the previous year and EBITDA before material special effects of €120 million to €180 million.

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Merck KGaA $MRK (+0,38%) achieves final Q2 sales of €5.35 billion (preliminary: €5.35 billion), final adjusted EBITDA of €1.509 billion (preliminary: €1.509 billion) and final adjusted earnings per share of €2.20 (preliminary: €2.20). Outlook confirmed.

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MTU Aero Engines $MTX (+0,4%) achieves Q2 revenues (adjusted) of €1.755 billion (previous year: €1.57 billion), EBIT (adjusted) of €193 million (previous year: €242 million, analyst forecast: €223 million) and net profit of €185 million (previous year: €143 million, forecast: €163 million). Margin forecast for 2024 raised to around 13% (previously: more than 12%) Outlook for sales, adjusted EBIT margin and FCF confirmed.

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Daimler Truck $DTG (-1,9%) achieved order intake of 92,569 vehicles in the 2nd quarter (previous year: -5%), revenue of €13.3 billion (previous year: €13.88 billion), EBIT (adjusted) of €1.17 billion (previous year: €1.43 billion) and earnings per share of €0.93 (previous year: €1.11).