BYD increases e-vehicle sales

BYD $1211 (-1,4%) is continuing its impressive growth trajectory and is making a good start. In February 2025, sales figures for plug-in vehicles rose by an impressive 161% compared to the previous year. The company sold a total of 322,846 vehicles, which shows a clear upward trend. Particularly exciting is the massive increase in pure electric vehicles, where sales figures rose by 127.5 percent and 124,902 BEVs were sold. However, plug-in hybrids remain the dominant vehicle category with 193,331 units sold. Investors are delighted with these strong figures: BYD shares rose by 5.79 percent to 51.15 Hong Kong dollars, raising hopes for a continued successful future.

Freenet plans dividend increase

Freenet $FNTN (+1,17%) achieved its targets last year and is now planning a dividend increase, which will put shareholders in a good mood. EBITDA climbed by 3.5 percent to 521.5 million euros, supported by a special effect from the sale of IP addresses. Free cash flow was also strong and improved to 292.3 million euros. Revenues grew by 3.9% to EUR 2.478 billion, with growth being driven primarily by waipu.tv subscription customers. The dividend is to be increased to EUR 1.97 per share. The Management Board is also planning a share buyback program with a volume of up to EUR 100 million, underlining its confidence in the company's future development.

Bayer expects profit decline

Bayer $BAYN (+0,34%) expects a further decline in operating profit in 2025, particularly in the agricultural business. The company faces continued headwinds that could have a negative impact on business results. While the exact figures and forecasts are still to come, there are already early indications that market conditions will remain challenging. It remains to be seen how this development will affect the stock and whether Bayer will be able to withstand the market challenges.

Sources:

https://www.finanzen.net/nachricht/aktien/auf-wachstumskurs-byd-aktie-profitiert-von-starken-auslieferungszahlen-in-china-14292232

https://www.finanzen.net/nachricht/aktien/dividendenerhoehung-geplant-freenet-aktie-im-plus-freenet-erreicht-eigene-prognosen-14291119

https://www.finanzen.net/nachricht/aktien/bayer-aktie-bayer-rechnet-2025-mit-weiterem-gewinnrueckgang-14292325

Adidas focuses on further growth + Blackrock acquires two ports on the Panama Canal + freenet with record EBITDA, free cash flow and higher dividend than in the previous year

Blackrock $BLK (-2,68%)takes over two ports on the Panama Canal

• Following pressure from the USA, the US financial firm Blackrock is to take control of two important ports on the Panama Canal.
• Hong Kong-based CK Hutchison is to sell a majority stake in its port division to a consortium led by Blackrock, according to a statement.
• As part of the deal, the company Panama Ports, which operates the ports of Balboa and Cristobal at the entrances to the Panama Canal, is also changing hands.
• US President Donald Trump claims that the US has too much influence over the Panama Canal and speaks of the need for the US to regain control of the waterway.
• China and Panama reject the accusations.
• The Panama Canal was built by the USA at the beginning of the 20th century, but sovereignty over the canal zone was completely returned to Panama at the end of 1999.
• The sale of the port still requires the approval of the authorities, among other things.
• CK Hutchison is set to receive around 19 billion dollars once the deal is completed.

Adidas $ADS (-0,39%)focuses on further growth

• Despite a difficult economic environment, sporting goods manufacturer Adidas expects further growth in the current year.
• However, this is likely to weaken somewhat compared to 2024.
• The company announced in Herzogenaurach on Wednesday that sales in 2025 are expected to increase by a high single-digit percentage on a currency-adjusted basis.
• The Adidas brand is expected to grow by at least ten percent.
• This no longer includes sales of Yeezy products, after the remaining stock from the terminated collaboration with the controversial rapper Kanye West was sold off last year.
• In 2024, Adidas had once again generated around 650 million euros with the products, with overall currency-adjusted sales increasing by 12 percent to 23.7 percent.
• Profitability is set to improve further. Adidas anticipates an increase in operating profit to between 1.7 and 1.8 billion euros, compared to 1.3 billion euros in the previous year.
• Investments in marketing and sales are to be increased.
• "I think we are very well positioned for 2025," commented Group CEO Björn Gulden.
• The company will also make "further progress" towards an operating margin of ten percent.
• In 2024, Adidas improved its margin by 4.4 percentage points to 5.6 percent.
• The Herzogenaurach-based company had already presented preliminary figures for the past year at the end of January.

freenet $FNTN (+1,17%)posts record EBITDA and free cash flow for the 2024 financial year - Proposed dividend significantly higher than previous year

• All financial performance indicators (revenue, EBITDA, free cash flow) were within the forecast ranges raised by the Management Board during the year
• Revenue: Increase of 3.9% to EUR 2,478 million (previous year: EUR 2,385 million), mainly due to the significant growth in waipu.tv subscribers (+571 thousand).
• EBITDA: Increase of 3.5% to EUR 521.5 million (previous year: EUR 503.9 million), with a one-off effect from the sale of IP addresses (EUR 18.4 million) having a positive impact.
• Free cash flow: increase of 5.7% to EUR 292.3 million (previous year: EUR 276.6 million)
• Based on the figures, the Executive Board proposes a record dividend of EUR 1.97 per share (previous year: EUR 1.77 per share) and sees the potential for share buy-backs of up to EUR 100 million.

Wednesday: Stock market dates, economic data, quarterly figures

• Quarterly figures / company dates USA / Asia
• No time specified: Foot Locker quarterly figures

• Quarterly figures / company dates Europe
• 07:00 Evonik Industries | Schaeffler Annual results
• 07:30 Adidas | Bayer | Telecom Italia Annual results
• 08:30 Evonik BI-PK
• 10:00 Bayer BI-PK | Freenet Conference call on preliminary annual results
• 11:30 Evonik Analyst Conference
• 12:00 Schaeffler Analyst Conference
• 14:00 Bayer Analyst Conference
• 21:00 Logitech Capital Markets Day
• No time specified: Dassault Aviation | Atos annual figures

• Economic data

08:30 CH: Consumer prices February FORECAST: +0.6% yoy/+0.2% yoy previously: -0.1% yoy/+0.4% yoy

08:45 FR: Industrial production January FORECAST: +0.4% yoy previous: -0.4% yoy

09:45 IT: Purchasing Managers' Index/PMI non-manufacturing February FORECAST: 50.5 previous: 50.4

09:50 FR: Purchasing Managers' Index/PMI non-manufacturing (2nd release) February PROGNOSE: 44.5 1st release: 44.5 PREV: 48.2 Total Purchasing Managers' Index (2nd release) PROGNOSE: 44.5 1st release: 44.5 PREV: 47.6

09:55 DE: Purchasing Managers' Index/PMI non-manufacturing (2nd release) February FORECAST: 52.2 1st release: 52.2 PREV: 52.5 Total Purchasing Managers' Index (2nd release) FORECAST: 51.0 1st release: 51.0 PREV: 50.5

10:00 EU: Purchasing Managers' Index/PMI non-manufacturing euro area (2nd release) February FORECAST: 50.7 1st release: 50.7 PREV: 51.3 Total Purchasing Managers' Index (2nd release) FORECAST: 50.2 1st release: 50.2 PREV: 50.2

10:00 IT: GDP (2nd release) 4Q

10:30 UK: Purchasing Managers' Index/PMI non-manufacturing (2nd release) February 1. Release: 51.1 previous: 50.8

11:00 EU: Producer Prices January Eurozone FORECAST: +0.4% yoy/+1.4% yoy previously: +0.4% yoy/0.0% yoy

14:15 US: ADP labor market report February private sector employment PROGNOSE: +148,000 jobs previous: +183,000 jobs

15:45 US: Purchasing Managers' Index/PMI Services (2nd release) February FORECAST: 49.8 1st release: 49.7 previous: 52.9

16:00 US: Industrial New Orders January FORECAST: +1.6% yoy previous: -0.9% yoy

16:00 US: ISM non-manufacturing index February FORECAST: 52.9 points previous: 52.8 points

20:00 US: Fed, Beige Book

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

For a peaceful night's sleep (conservative):

• E.On $EOAN (+0,85%)
• Johnson & Johnson $JNJ (-0,63%)
• Munich Re $MUV2 (+1,23%)
• PepsiCo $PEP (-0,01%)
• Procter & Gamble $PG (-0,42%)

Top dividend with medium risk can be seen in:

• Andritz $ANDR (-1,7%)
• Freenet $FNTN (+1,17%)
• Imperial Brands $IMB (-0,06%)
• Traton $8TRA (+0,9%)

Dividends with a yield kick are located in these shares:

• Frontline $FRO (-1,54%)
• Petrobas $PETR3 (-0,75%)
• Repsol $REP (+0,38%)
• Stellantis $STLAM (-1,64%)

Source: Der Aktionär, Issue 08.2025

Analsyst updates, 06.12.

⬆️⬆️⬆️

• BERNSTEIN raises the price target for SIEMENS from EUR 220 to EUR 227. Outperform. $SIE (+0,07%)
• JPMORGAN raises the target price for SIEMENS ENERGY from EUR 38.70 to EUR 44. Neutral. $ENR (+0,38%)
• JEFFERIES upgrades BMW from Hold to Buy and raises target price from EUR 80 to EUR 85. $BMW (+0,28%)
• ODDO BHF raises the price target for AURUBIS from EUR 70 to EUR 76. Neutral. $NDA (-0,71%)
• UBS raises target price for AUTO1 from EUR 9.80 to EUR 20.50. Buy. $AG1 (-0,51%)
• UBS raises the target price for NORDEA from SEK 144 to SEK 145. Buy. $NDA FI (-0,1%)
• DEUTSCHE BANK RESEARCH raises the price target for FREENET from EUR 34 to EUR 36. Buy. $FNTN (+1,17%)
• DEUTSCHE BANK RESEARCH raises the target price for DS SMITH from GBP 4 to GBP 5.80. Hold. $SMDS
• JPMORGAN raises the price target for THYSSENKRUPP from EUR 3.80 to EUR 4.10. Neutral. $TKA (+2%)
• JPMORGAN raises the target price for SALZGITTER from EUR 11.50 to EUR 14.10. Underweight. $SZG (+0,53%)
• JPMORGAN raises the price target for SCHNEIDER ELECTRIC from EUR 270 to EUR 275. Overweight. $SU (-0,98%)
• JPMORGAN raises the price target for KNORR-BREMSE from EUR 88 to EUR 92. Overweight. $KBX (+1,09%)
• MORGAN STANLEY upgrades HANNOVER RÜCK to Overweight. Target price EUR 292. $HNR1 (+0%)
• JPMORGAN raises the target price for COMMERZBANK from EUR 18.40 to EUR 19.50. Overweight. $CBK (+1,17%)

⬇️⬇️⬇️

• GOLDMAN lowers the price target for LVMH from EUR 770 to EUR 720. Buy. $MC (-1,89%)
• MORGAN STANLEY downgrades MUNICH RE to Equal-Weight. Target price 523 EUR. $MUV2 (+1,23%)
• JEFFERIES downgrades MERCEDES-BENZ from Buy to Hold and lowers target price from EUR 73 to EUR 60. $MBG (+1,05%)
• ODDO BHF lowers the price target for DELIVERY HERO from EUR 43 to EUR 38. Neutral. $DHER (+1,88%)
• WARBURG RESEARCH lowers the price target for COMPUGROUP from EUR 31 to EUR 24.50. Buy. $COP (+0,14%)
• JPMORGAN lowers the price target for VESTAS from DKK 143 to DKK 123. Neutral. $VWS (-2,63%)
• JPMORGAN lowers the price target for KION from EUR 44 to EUR 43. Overweight. $KGX (-0,27%)
• MORGAN STANLEY downgrades ORSTED to Equal-Weight. Target price DKK 480. $ORSTED (-1,29%)

Analyst updates, 28.11.

⬆️⬆️⬆️

- HAUCK AUFHÄUSER IB raises the price target for ECKERT & ZIEGLER from EUR 55 to EUR 56.50. Buy. $EUZ (-1,41%)

- EXANE BNP raises the target price for FREENET from EUR 30 to EUR 34. Outperform. $FNTN (+1,17%)

- HAUCK AUFHÄUSER IB raises the price target for NORTHERN DATA from EUR 45 to EUR 52. Buy. $NB2 (-3,36%)

- WARBURG RESEARCH raises the price target for PATRIZIA from EUR 9.80 to EUR 9.90. Buy. $PAT (-0,45%)

- DEUTSCHE BANK RESEARCH raises the price target for EASYJET from GBP 6.70 to GBP 7.15. Buy. $EZJ (+0,63%)

- EXANE BNP upgrades TRATON to Outperform. Target price EUR 35. $8TRA (+0,9%)

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

⬇️⬇️⬇️

- BRYAN GARNIER lowers the price target for LVMH from EUR 800 to EUR 770. Buy. $MC (-1,89%)

- KEPLER CHEUVREUX lowers the price target for PORSCHE SE from EUR 48 to EUR 47. Buy. $PAH3 (-0,12%)

- DEUTSCHE BANK RESEARCH lowers the price target for SYMRISE from EUR 130 to EUR 125. Buy. $SY1 (-0,31%)

- WARBURG RESEARCH lowers the price target for ABO ENERGY from EUR 114 to EUR 110. Buy. $AB9 (+2,16%)

- EXANE BNP lowers the target price for 1&1 from EUR 15 to EUR 12. Neutral. $1U1 (-0,27%)

- EXANE BNP lowers the price target for UNITED INTERNET from EUR 20 to EUR 17. Neutral. $UTDI (+1,49%)

- STIFEL downgrades COMPUGROUP from Buy to Hold and lowers target price from EUR 64 to EUR 18. $COP (+0,14%)

- BARCLAYS lowers the price target for SCHOTT PHARMA from EUR 33 to EUR 27. Equal-Weight. $1SXP (+4,07%)

- UBS lowers the price target for VESTAS from DKK 245 to DKK 175. Buy. $VWS (-2,63%)

$FNTN (+1,17%)

Freenet has a 6 year high

The dividend favorite has 1.83 million customers subscribing to Waipu.tv

Target by 2028 Ebita 600 million

Subscription 3.5m

P/E RATIO 12

⬆️⬆️⬆️

- UBS raises its price target for NVIDIA from USD 150 to USD 185. Buy. $NVDA (-3,98%)

- METZLER raises the price target for MUNICH RE from EUR 535 to EUR 543. Buy. $MUV2 (+1,23%)

- GOLDMAN lowers the target price for NOVO NORDISK from DKK 1040 to DKK 1025. Buy. $NOVO B (+0,7%)

- GOLDMAN upgrades MTU from Neutral to Buy and raises target price from EUR 276 to EUR 400. $MTX (-1,53%)

- GOLDMAN upgrades BASF from Neutral to Buy and raises target price from EUR 45 to EUR 53. $BAS (+0,43%)

- DEUTSCHE BANK RESEARCH raises the price target for FRESENIUS SE from EUR 42 to EUR 44. Buy. $FRE (+0,1%)

- DEUTSCHE BANK RESEARCH raises the price target for EMBRACER from SEK 24 to SEK 28. Hold. $TH9A

- DEUTSCHE BANK RESEARCH raises the price target for AMADEUS IT from EUR 62 to EUR 65. Hold. $AMS (-0,86%)

- DEUTSCHE BANK RESEARCH raises the price target for NEMETSCHEK from EUR 85 to EUR 100. Hold. $NEM (-0,46%)

- WARBURG RESEARCH raises the price target for DÜRR from EUR 32 to EUR 33. Buy. $DURYY (+1,41%)

- HAUCK AUFHÄUSER IB upgrades CANCOM from Hold to Buy. Target price EUR 32. $COK (-0,81%)

- ODDO BHF upgrades GENERALI to Neutral. Target price EUR 26.10. $G (-4,34%)

- METZLER raises the price target for HEIDELBERG MATERIALS from EUR 131 to EUR 138. Buy. $HEI (+0,51%)

- BERENBERG raises the price target for FLATEXDEGIRO from EUR 16 to EUR 18. Buy. $FTK (-0,16%)

- BERENBERG raises the price target for FREENET from EUR 29 to EUR 32. Buy. $FNTN (+1,17%)

- JPMORGAN raises the target price for HEIDELBERG MATERIALS from EUR 108 to EUR 149. Overweight. $HEI (+0,51%)

⬇️⬇️⬇️

- UBS lowers the price target for MUNICH RE from EUR 560 to EUR 540. Buy. $MUV2 (+1,23%)

- ODDO BHF downgrades MODERNA to Outperform. Target price USD 86. $MRNA (+0,25%)

- UBS downgrades VALE from Buy to Neutral and lowers target price from USD 14 to USD 11.50. $VALE (-1,25%)

- DZ BANK lowers target price for DEUTZ from EUR 6.80 to EUR 5.80. Buy. $DEZ (+0,71%)

- DZ BANK lowers the price target for BECHTLE from EUR 51 to EUR 45. Buy. $BC8 (-0,23%)

- BERENBERG lowers the target price for ESTEE LAUDER from USD 87 to USD 76. Hold. $EL (-1,88%)

- RBC lowers the target price for ASOS from GBP 4.60 to GBP 4. Sector Perform. $ASC (-4,5%)

- RBC lowers the price target for EVOTEC from EUR 12 to EUR 11.60. Outperform. $EVT (-2,7%)

- RBC lowers the price target for VESTAS from DKK 222 to DKK 156. Outperform. $VWS (-2,63%)

- BERENBERG lowers the price target for SUSS MICROTEC from EUR 80 to EUR 75. Buy. $SMHN (-2,68%)

- JEFFERIES downgrades NEL from Hold to Underperform and lowers target price from NOK 5.50 to NOK 3. $NEL (-1,47%)

- RBC lowers the price target for BMW from EUR 81 to EUR 80. Sector Perform. $BMW (+0,28%)

- JEFFERIES lowers the price target for KNAUS TABBERT from EUR 26 to EUR 20. Hold. $KTA (-0,94%)