Heidelberger Druckmaschinen ADR

Analyst updates, 17.12.

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• - UBS raises the price target for AMAZON from USD 230 to USD 264. Buy. $AMZN (+0,01%)
• - CITIGROUP raises the target price for ALLIANZ SE from EUR 286 to EUR 314.40. Neutral. $ALV (+0%)
• - BARCLAYS raises the target price for DHL GROUP from EUR 37.50 to EUR 38. Equal-Weight. $DHL (+0%)
• - DEUTSCHE BANK RESEARCH upgrades AIRBUS from Hold to Buy and raises target price from EUR 155 to EUR 185. $AIR (+0%)
• - BERENBERG raises the price target for MUNICH RE from EUR 525 to EUR 552. Hold. $MUV2 (+0%)
• - KEPLER CHEUVREUX raises the price target for ADESSO from EUR 80 to EUR 100. Hold. $ADN1 (+0%)
• - WARBURG RESEARCH raises the price target for FMC from EUR 31 to EUR 36. Sell. $FME (+0%)
• - DEUTSCHE BANK RESEARCH raises the target price for AUTO1 from EUR 12 to EUR 20. Buy. $AG1 (+0%)
• - DEUTSCHE BANK RESEARCH raises the price target for MTU from EUR 329 to EUR 337. Hold. $MTX (+0%)
• - DEUTSCHE BANK RESEARCH raises the price target for HENSOLDT from EUR 37 to EUR 41. Buy. $HAG (+0%)
• - DEUTSCHE BANK RESEARCH raises the target price for ROLLS-ROYCE from GBP 5.55 to GBP 6.30. Buy. $RR. (+0%)
• - BOFA raises the target price for INFINEON from EUR 36 to EUR 40. Buy. $IFX (+0,04%)
• - BOFA raises the price target for STMICRO from EUR 29 to EUR 30. Buy. $STMPA (+0%)
• - BOFA raises the target price for NOKIA from EUR 4.07 to EUR 4.58. Neutral. $NOKIA (+0,04%)

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• - JPMORGAN downgrades TRANSMEDICS from Overweight to Neutral and lowers target price from 116 USD to 75 USD. $TMDX (-1,45%)
• - BOFA lowers the price target for SILTRONIC from EUR 59 to EUR 46. Underperform. $WAF (+0%)
• - HSBC lowers the price target for CARL ZEISS MEDITEC from EUR 66 to EUR 54. Hold. $AFX (+0%)
• - KEPLER CHEUVREUX lowers the price target for HEIDELBERGER DRUCK from EUR 1.25 to EUR 1. Hold. $HBGRY
• - KEPLER CHEUVREUX lowers the price target for EVONIK from EUR 25 to EUR 21. Buy. $EVK (+0%)
• - KEPLER CHEUVREUX lowers the price target for NORDEX from EUR 17 to EUR 14. Buy. $NDX1 (+0%)

Earnings summary, 13.11. 👇🏼

Allianz Q3 24 Earnings: $ALV (+0%)

- Oper Profit EU3.94B (est EU3.76B)

- Rev EU42.8B, With Records of 14% Op Profit Growth (Q/Q)

- Sees FY Oper Profit In In Upper Half Of EU13.*B -EU15.8B

Porsche SE
$P911 (-0,16%) reports a drop in profit to 2.5 billion euros after tax in the first nine months, compared with 3.8 billion euros in the previous year, and confirms its annual forecasts for profit and net debt. Despite the challenges in the automotive industry, the holding company is attempting to further diversify its investments and has reduced its net debt to 5.1 billion euros.

Renk
$DE000RENK730 (+0,01%) increased sales by over 19 percent to 778 million euros in the first nine months, driven by demand in the maintenance business and Vehicle Mobility Solutions. Despite an 8.1 percent increase in adjusted EBIT, the margin falls and net profit drops to EUR 7 million due to higher taxes, while the annual targets are confirmed.

The RTL Group $RTLL (+0%) expects consolidated revenues to increase to EUR 6.3 billion in 2024, which is below previous expectations, and anticipates an EBIT at the lower end of the range of EUR 700 to 800 million. Revenue in the third quarter fell by 5.5% to €1.3 billion, while the Group's streaming services recorded 6.5 million subscribers.

Auto1
$AG1 (+0%) raises its profit forecast for 2024 to between 72 and 84 million euros after the third quarter exceeded expectations with an operating profit of 34.3 million euros. Vehicle sales increased by 26 percent year-on-year to 176,632 units, while turnover grew by 24 percent to 1.6 billion euros.

Heidelberger Druckmaschinen
$HBGRY achieved a profit of 7 million euros in the second quarter, following a loss in the first quarter. Sales fall by just under seven percent to 512 million euros, while adjusted EBITDA falls to 40 million euros; the annual targets are confirmed.

TAG Immobilien
$TEG (+0%) generates a profit of 30 million euros in the first nine months, after a loss of just under 275 million euros in the previous year, and expects a slightly positive operating profit trend for 2024. For the year as a whole, the real estate group expects an operating profit at the upper end of the forecast of EUR 170 to 174 million and further valuation gains in Poland for 2025.

The Deutsche Pfandbriefbank
$PBB (+0%) recorded a net profit of 37 million euros in the third quarter, almost five times as much as in the previous year, thanks to lower loan loss provisions. Despite a six percent decline in income, the bank remains behind the previous year with new business of 2.5 billion euros, but sees itself on course for higher profits by 2027.

Ströer
$SAX (+0%) recorded an increase in revenue of 2.5% to just under EUR 496 million in the third quarter, while the adjusted operating result rose by 6.1% to almost EUR 157 million. Co-CEO Christian Schmalzl expects high single-digit growth in the out-of-home advertising business for the year as a whole.