Thyssenkrupp

Analyst updates, 16.12.

⬆️⬆️⬆️

• JEFFERIES raises the price target for AMAZON from USD 235 to USD 275. Buy. $AMZN (-0,01%)
• CITIGROUP raises the price target for MUNICH RE from EUR 475 to EUR 522. Neutral. $MUV2 (+0%)
• BERENBERG raises the price target for RHEINMETALL from EUR 655 to EUR 750. Buy. $RHM (+0,23%)
• WARBURG RESEARCH raises the price target for PORSCHE SE from EUR 36 to EUR 37. Hold. $PAH3 (+0%)
• WARBURG RESEARCH raises the price target for HENSOLDT from EUR 40 to EUR 42. Buy. $HAG (+0,03%)
• JEFFERIES raises the target price for SHELL from GBP 31 to GBP 32. Buy. $SHEL (+0%)

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• BERNSTEIN lowers the price target for PORSCHE SE from EUR 46 to EUR 42. Market Perform. $PAH3 (+0%)
• HSBC downgrades SAP to Hold. Target price EUR 260. $SAP (+0%)
• LOOP CAPITAL downgrades NETFLIX to Hold. Target price 950 USD. $NFLX (-0,11%)
• EXANE BNP lowers the price target for MERCEDES-BENZ from EUR 57 to EUR 54. Underperform. $MBG (+0%)
• JEFFERIES downgrades FORD from Hold to Underperform and lowers target price from USD 12 to USD 9. $F (+0,16%)
• CITIGROUP lowers the price target for THYSSENKRUPP from EUR 5.80 to EUR 5.50. Buy. $TKA (+0%)
• STIFEL lowers the price target for AIXTRON from EUR 20 to EUR 18. Hold. $AIXA (+0%)
• PARETO downgrades TRATON to Hold. Target price EUR 32.50. $8TRA (+0%)
• DEUTSCHE BANK RESEARCH lowers the target price for KINGFISHER from GBP 3.50 to GBP 3.40. Buy. $KGF (+0,1%)
• METZLER lowers the price target for CARL ZEISS MEDITEC from EUR 104 to EUR 90. Buy. $AFX (+0%)
• BERENBERG lowers the price target for SCHOTT PHARMA from EUR 32 to EUR 28. Hold. $1SXP (+0%)
• CITIGROUP downgrades 1&1 to Neutral. Target price EUR 15. $1U1 (+0%)

Analsyst updates, 06.12.

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• BERNSTEIN raises the price target for SIEMENS from EUR 220 to EUR 227. Outperform. $SIE (+0%)
• JPMORGAN raises the target price for SIEMENS ENERGY from EUR 38.70 to EUR 44. Neutral. $ENR (-0,46%)
• JEFFERIES upgrades BMW from Hold to Buy and raises target price from EUR 80 to EUR 85. $BMW (+0%)
• ODDO BHF raises the price target for AURUBIS from EUR 70 to EUR 76. Neutral. $NDA (+0%)
• UBS raises target price for AUTO1 from EUR 9.80 to EUR 20.50. Buy. $AG1 (+0%)
• UBS raises the target price for NORDEA from SEK 144 to SEK 145. Buy. $NDA FI (+0,05%)
• DEUTSCHE BANK RESEARCH raises the price target for FREENET from EUR 34 to EUR 36. Buy. $FNTN (+0%)
• DEUTSCHE BANK RESEARCH raises the target price for DS SMITH from GBP 4 to GBP 5.80. Hold. $SMDS (+0,15%)
• JPMORGAN raises the price target for THYSSENKRUPP from EUR 3.80 to EUR 4.10. Neutral. $TKA (+0%)
• JPMORGAN raises the target price for SALZGITTER from EUR 11.50 to EUR 14.10. Underweight. $SZG (+0%)
• JPMORGAN raises the price target for SCHNEIDER ELECTRIC from EUR 270 to EUR 275. Overweight. $SU (+0%)
• JPMORGAN raises the price target for KNORR-BREMSE from EUR 88 to EUR 92. Overweight. $KBX (+0%)
• 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 (+0%)

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

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/MIWRHpxCCDo?si=TgjZ1ipOUpkOa-Vt

Monday:

A plane of the $DHL (+0%) DHL Group plane crashes into a residential building in Lithuania. One person dies and several are injured. It is suspected that the accident could have been caused by an act of sabotage by Russia.

https://m.bild.de/news/litauen-dhl-flugzeug-aus-leipzig-stuerzt-auf-wohnhaus-ein-toter-67440f0603d64b3540b295f1

The construction industry continues to suffer from high interest rates. Compared to August, there was a 12.4% drop in orders in September. The construction industry is hoping for further interest rate cuts by the ECB. The key interest rate could be cut again as early as December.

https://www.handelsblatt.com/politik/konjunktur/konjunktur-bauauftraege-mit-groesstem-einbruch-seit-fast-zweieinhalb-jahren/100090592.html

$TKA (+0%) Thyssen Krupp Steel decides to reduce production, which means that 5,000 jobs will probably be cut.

https://www.handelsblatt.com/unternehmen/industrie/stahlhersteller-thyssen-krupp-steel-baut-5000-arbeitsplaetze-ab/100090651.html

Wednesday:

Applications for unemployment benefits in the USA 🇺🇸 continue to fall. The American labor market is humming. In fact, fewer applications were filed than forecast.

https://www.reuters.com/markets/us/us-weekly-jobless-claims-decline-further-2024-11-27/

Secret plans by Benko and CEO Daniel Grieder for $BOSS (+0%) Hugo Boss, together with a short seller's increase, have caused a significant fall in the fashion company's share price today.

https://www.wiwo.de/unternehmen/handel/brisante-e-mail-mit-strategieplaenen-hugo-boss-und-rene-benko-gewerkschaft-fordert-aufklaerung/30104508.html

Thursday:

The FDP today published the document for which it was heavily criticized by the SPD and the media. Contrary to what was presented, the document presents scenarios and does not specifically plan the end of the traffic light system.

https://m.bild.de/politik/inland/fdp-macht-d-day-papier-oeffentlich-beginn-der-offenen-feldschlacht-67488a0afc23cc2c0725bba3

The inflation rate in Germany rises to 2.2% in November. This is the second month in a row that the inflation rate has risen, but is only moderately above the ECB's 2.0% target. However, economists had expected an increase to 2.3%.

https://www.tagesschau.de/wirtschaft/verbraucher/inflation-november-erste-schaetzung-100.html

Key dates in the coming week:

Monday: 16:00 Economic data (USA)

Wednesday: 11:00 Producer prices (EU)

Friday: 16:00 Michigan Index (USA)

What other important dates can you think of?

#wirtschaft
#usa
#eu
#erzeugerpreise

ThyssenKrupp $TKA (+0%) has issued a positive going concern forecast for the Steel division based on an IDW S11 report. steel division which enables a financing commitment from the parent company.

This secures the division's liquidity for the coming 12 to 24 months.

CEO Miguel Lopez plans to transform the steel division into a 50:50-joint venture with the holding company of the Czech billionaire Daniel Kretinsky.

Although the completion of the expert opinion was delayed, the results now form the basis for a further investigation, which should be completed by 2024.

This marks the start of important steps for the strategic realignment of the steel division.

"thyssenkrupp Steel
$TKA (+0%) presents key points for industrial future concept"

Key points:

- Lowering the operating point to a dispatch level of 8.7 to 9.0 million tons.

- Further processing site in Kreuztal-Eichen to be closed.

- The aim is to cut around 5,000 jobs by 2030 through adjustments in production and administration. In addition, a further 6,000 jobs are to be transferred to external service providers or the sale of business activities.

- Reduction of personnel costs by an average of ten percent in the coming years to a competitive cost level.

- Future concept forms the basis for discussions with employee representatives, the preparation of the business plan and the IDW S6 report.

Info, press releases and graphics - thyssenkrupp

thyssenkrupp Steel Europe is planning a far-reaching reorganization with drastic cuts by 2030.

A total of 5,000 jobs are to be cut and a further 6,000 jobs outsourced to external service providers.

This would reduce the current workforce of 27,000 to around 16,000.

At the same time, production capacities are to be reduced from 11.5 million to 8.7 to 9.0 million tons per year and personnel costs cut by an average of ten percent.

The announcement has triggered massive criticism. IG Metall speaks of a "clear cut" and announces fierce resistance, in particular against compulsory redundancies and site closures.

IG Metall district manager Knut Giesler emphasized that the planned measures were "a catastrophe" for employees and North Rhine-Westphalia as an industrial location. North Rhine-Westphalia's Minister President Hendrik Wüst also called for socially responsible implementation and urged Thyssenkrupp to live up to its responsibilities.

In response to the weak demand and high international competitive pressure, thyssenkrupp wants to make steel production more efficient.

A central point is the planned greater independence of the steel division.

The Czech energy supplier EPCG, which already holds 20 percent of the company, could increase its share to 50 percent.

Despite the savings, thyssenkrupp is sticking to its long-term focus on "green steel" as a technology of the future. -ntv

https://www.thyssenkrupp.com/de/newsroom/pressemeldungen/pressedetailseite/thyssenkrupp-steel-stellt-wesentliche-eckpunkte-fur-industrielles-zukunftskonzept-vor-290356

Analyst updates, 25.11.

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- MORGAN STANLEY upgrades ROBINHOOD to Overweight. Target price USD 55. $HOOD (-0,74%)

- BARCLAYS raises the price target for DEUTSCHE TELEKOM from EUR 37 to EUR 39.50. Overweight. $DTE (-0,03%)

- BERENBERG raises the target price for SIEMENS ENERGY from EUR 35 to EUR 70. Buy. $ENR (-0,46%)

- UBS raises the target price for RHEINMETALL from EUR 570 to EUR 630. Neutral. $RHM (+0,23%)

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

- DEUTSCHE BANK RESEARCH upgrades VESTAS from Hold to Buy. $VWS (+0,05%)

- DEUTSCHE BANK RESEARCH raises the price target for VONOVIA from EUR 33 to EUR 38. Buy. $VNA (+0%)

- DEUTSCHE BANK RESEARCH raises the price target for TAG IMMOBILIEN from EUR 16 to EUR 18. Buy. $TEG (+0%)

- DEUTSCHE BANK RESEARCH upgrades AROUNDTOWN from Sell to Hold. Target price EUR 2.80. $AT1 (+0%)

- DEUTSCHE BANK RESEARCH raises the price target for LEG IMMOBILIEN from EUR 90 to EUR 105. Buy. $LEG (+0%)

- DEUTSCHE BANK RESEARCH upgrades DEUTSCHE WOHNEN from Hold to Buy and raises target price from EUR 19 to EUR 28. $DWNI (+0%)

- 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. (+0%)

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

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

- KEPLER CHEUVREUX raises the target price for ECKERT & ZIEGLER from 57.30 EUR to 60.30 EUR. Buy. $EUZ (+0%)

- BARCLAYS raises the target price for UNITED INTERNET from EUR 23 to EUR 26. Equal-Weight. $UTDI (+0%)

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

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

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

- GOLDMAN downgrades ORSTED from Buy to Neutral and lowers target price from DKK 520 to DKK 445. $ORSTED (+0,05%)

- DEUTSCHE BANK RESEARCH lowers the price target for H&M from SEK 200 to SEK 190. Buy. $HM B (+0,04%)

- MORGAN STANLEY lowers the price target for MERCK KGAA from EUR 200 to EUR 190. Overweight. $MRK (+1,02%)

- BARCLAYS lowers the target price for THYSSENKRUPP from EUR 4.40 to EUR 4. Underweight. $TKA (+0%)

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

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

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- BOFA raises the price target for WALMART from USD 95 to USD 105. Buy. $WMT (-0,19%)

- JEFFERIES raises the price target for WALMART from USD 100 to USD 105. Buy. $WMT (-0,19%)

- HAUCK AUFHÄUSER IB raises the target price for RHEINMETALL from EUR 680 to EUR 750. Buy. $RHM (+0,23%)

- WARBURG RESEARCH raises the target price for RHEINMETALL from EUR 600 to EUR 700. Buy. $RHM (+0,23%)

- JPMORGAN raises the price target for SALESFORCE from USD 310 to USD 340. Overweight. $CRM (+0,05%)

- WARBURG RESEARCH raises the target price for LEG IMMOBILIEN from EUR 81.60 to EUR 90.50. Hold. $LEG (+0%)

- DEUTSCHE BANK RESEARCH raises the price target for HEIDELBERG MATERIALS from EUR 116 to EUR 137. Buy. $HEI (+0%)

- KEPLER CHEUVREUX raises the price target for GFT TECHNOLOGIES from EUR 31 to EUR 32. Buy. $GFT (+0%)

- ODDO BHF raises the target price for TALANX from EUR 76 to EUR 78. Underperform. $TLX (+0%)

- KEPLER CHEUVREUX raises the target price for THYSSENKRUPP from EUR 3.70 to EUR 3.80. Hold. $TKA (+0%)

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- STIFEL lowers the price target for BAYER from EUR 36 to EUR 28. Hold. $BAYN (+0,15%)

- LBBW downgrades ENI from Buy to Hold and lowers target price from EUR 16.70 to EUR 15. $ENI (+0%)

- WARBURG RESEARCH lowers the target price for SFC ENERGY from EUR 29 to EUR 27. Buy. $F3C (+0%)

- WARBURG RESEARCH lowers the target price for TECHNOTRANS from EUR 23 to EUR 21. Buy. $TTR1 (+0%)

- DEUTSCHE BANK RESEARCH lowers the price target for CUREVAC from USD 3.90 to USD 2.50. Hold. $CVAC (+2,82%)

- BERENBERG lowers the price target for ASTRAZENECA from GBP 150 to GBP 140. Buy. $AZN (+0,12%)

19.11.2024

MicroStrategy buys Bitcoin for USD 4.6 billion + Another billion-dollar loss at Thyssenkrupp + Delvery Hero with details of Talabat IPO

No listed company holds more Bitcoin than MicroStrategy
$MSTR (-3,23%). Now Michael Saylor's company strikes again and buys 51,780 BTC. The BTC $BTC (-1,65%) price is moving towards an all-time high and MicroStrategy continues to buy more Bitcoin. The average price for the latest accumulation is 88,627 US dollars per Bitcoin. The money for the purchases comes from recent capital increases. On average, the BTC purchased by MicroStrategy now cost 49,874 US dollars.

https://www.btc-echo.de/schlagzeilen/microstrategy-kauft-bitcoin-fuer-4-6-milliarden-us-dollar-195426/

The industrial group Thyssenkrupp $TKA (+0%) once again recorded a billion euro loss in the past financial year. The bottom line for 2023/24 (as at the end of September) was a loss of 1.4 billion euros, following a loss of 2 billion euros in the previous year, as the company announced in Essen on Tuesday. Thyssenkrupp wrote down around one billion euros on the weakening steel business. There were further write-downs in steel trading and the automotive business. Falling demand and lower steel prices led to a drop in sales of seven percent to 35 billion euros. Incoming orders fell by eleven percent to 32.8 billion euros. In addition to weak business in the steel and trading divisions, the automotive business also recorded declines. Only the marine division was able to grow. Adjusted earnings before interest and taxes (EBIT) fell by almost a fifth to 567 million euros. The company thus achieved its recently lowered forecast.

Delivery Hero $DHER (+0%) has announced details of the planned IPO of Talabat. The price range for Talabar shares has been set at 1.50 to 1.60 dirhams. Approximately 3.5 billion shares will be offered to investors during the subscription period, which will begin on November 19, 2024 and is scheduled to end on November 28, 2024. Depending on the final offer price, the gross proceeds will be between 5.2 and 5.6 billion dirhams, or approximately 1.4 to 1.5 billion dollars. Delivery Hero lost 4 percent - shareholders may have hoped for a somewhat more ambitious valuation.

Tuesday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

ENI USD 0.54

Quarterly figures / company dates USA / Asia

14:00 Walmart quarterly figures

20:00 Qualcomm Capital Markets Day

Quarterly figures / company dates Europe

07:00 Thyssenkrupp | Springer Nature Quarterly figures

07:30 SFC Energy quarterly figures

08:00 Imperial Brands | Medtronic quarterly figures

08:30 Nestle Capital Markets Day

10:00 Sto SE Quarterly Figures | Thyssenkrupp BI-PK

11:00 Swiss Re: Global Economic and Insurance Market Outlook 2025/26

12:00 Thyssenkrupp Analyst Conference

No time specified:

- Delivery Hero: Subsidiary Talabat - Publication of price range for the new shares to be issued as part of the IPO

- Rheinmetall: Capital Markets Day, Rome

Economic data

• 08:00 DE: Manufacturing order backlog and reach September | Hospitality sales October
• 11:00 EU: Consumer Prices October Eurozone FORECAST: +0.3%gg FM/+2.0% yoy PREVIEW: +0.3%gg FM/+2.0% yoy PREVIEW: -0.1%gg FM/+1.7% yoy Core (excluding energy, food, alcohol, tobacco) FORECAST: +0.2%gg FM/+2.7% yoy PREVIEW: +0.2%gg FM/+2.7% yoy PREVIEW: +0.1%gg FM/+2.7% yoy
• 14:30 US: Housing starts/permits October housing starts FORECAST: -1.0% yoy previous: -0.5% yoy Building Permits FORECAST: +0.8% yoy previous: -2.9% yoy
• 18:00 BR: Chancellor Scholz, statement at the end of the G20 summit in Rio de Janeiro

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/ZPpl6YxM2S4?si=K_7TSd0HdgNKy91u

Tuesday:

The agricultural group $BAYN (+0,15%) Bayer misses expectations again. Operating profit for 2024 is now estimated at only 10.4 to 10.7 billion euros. Sales fell by 3.6% in Q3. Mainly because glyphosate is currently no longer in such high demand in South America.

https://www.handelsblatt.com/unternehmen/industrie/pharmaunternehmen-bayer-senkt-gewinnprognose-fuer-2024-und-erwartet-schwaches-neues-jahr/100084062.html

$SIX2 (+0%) Sixt is still struggling with write-downs on used cars. Business itself is going well. Sixt still expects a pre-tax profit of EUR 340 million for 2024. Revenue increased by 10% in the third quarter.

https://www.n-tv.de/regionales/bayern/Sixt-kappt-Gewinnprognose-article25355559.html

The ZEW economic expectations were worse than expected. Expectations have worsened, the opposite had been expected.

https://www.finanzen.net/amp/eintruebung-zew-konjunkturerwartungen-deutschland-sinken-im-november-unerwartet-14008723

Significant increase at $VUL (+4,22%) Vulcan Energy, the company is producing green lithium hydroxide for the first time from its own European plant in Frankfurt Höchst. The first quantities are now going to customers LG, Umicore, Stellantis and Renault.

https://www.automobilwoche.de/e-auto-akku/vulcan-energy-erstes-grunes-lithium-aus-europa

Wednesday:

The inflation rate in the USA is rising again, now at 2.6%. It is thus moving away from the target value of 2.0%. Economists expect Trump to cause inflation to rise further. This is because fewer tax payments could further fuel the US economy, which could lead to shortages of goods. Tariffs and a stock market rally could drive prices up further.

https://www.handelsblatt.com/finanzen/geldpolitik/us-inflationsrate-26-prozent-inflation-in-den-usa-zieht-wieder-an/100087587.html

Thursday:

Producer prices from the USA 🇺🇸 are higher than expected. Instead of 2.3%, prices rose by an average of 2.4% compared to the same month last year. The core index excluding food and energy prices also rose.

https://www.boerse.de/nachrichten-amp/USA-Erzeugerpreise-steigen-etwas-staerker-als-erwartet/36700617

Friday:

$TKA (+0%) After the hydrogen subsidiary $NCH2 (+0%) Nucera, Thyssenkrupp is planning its next spin-off. This time, the marine division is to be floated on the stock exchange as an independent company. Sales negotiations with the investor Carlyle have recently failed.

https://www.handelsblatt.com/unternehmen/industrie/stahlkonzern-thyssenkrupp-marine-sparte-koennte-2025-26-an-die-boerse-gehen/100088818.html

Key dates in the coming week:

Tuesday: 14:30 Inflation data (Canada)

Wednesday: 00:50 Trade Balance (Japan)

Friday: 08:00 Inflation data (DE)

What other important dates can you think of?

#inflation
#kanada
#handel
#japan
#bip

As part of extensive cost-cutting measures $TKA (+0%) employees have to pay for hot drinks and cookies themselves instead of having them provided by the company in break rooms.

Christmas parties are also being abolished.

https://www.spiegel.de/wirtschaft/unternehmen/thyssenkrupp-sparkurs-in-der-stahlsparte-beschaeftigte-muessen-kaffee-und-kekse-selbst-bezahlen-a-c63bb582-fe71-4cf3-af0a-43ef906c10b0

I'm not sure, but wouldn't it be easy to reduce management bonuses by maybe 10% to make up for deficits? 🙃😉

#news