Company Name: The Platform Group AG ISIN: DE000A2QEFA1   Reason for the research: Update Recommendation: Buy from: 28.05.2025 Target price: 19,00 Euro Target price on sight of: 12 months Last rating change: - Analyst: Alexander Rihane First Berlin Equity Research hat ein Research Update zu The Platform Group AG (ISIN: DE000A2QEF [ … ]

Scout24 entered 2025 with strong operational momentum and strategic clarity. In Q1, both Professional and Private segments posted robust customer growth, supported by strong ARPU expansion and continued success of subscription products like Living+ and Buyer+. As transaction activity begins to recover in a stabilizing market, Scout24 remains well-positioned through its integrated platform and growing Homeowner ecosystem. Its market leadership, disciplined execution, and scalable business model continue to support margin expansion. Based on recent performance and improved visibility, mwb research’s analysts have adjusted their model assumptions to reflect stronger long-term fundamentals. With potential DAX inclusion as an additional catalyst, the analysts raise their price target to EUR 127.00 (old: EUR 100.00), while maintaining a HOLD rating given the recent share price strength. The full update can be downloaded under https://www.research-hub.de/companies/research/Scout24%20SE

Company Name: ad pepper media International N.V. ISIN: NL0000238145   Reason for the research: Update Recommendation: Buy from: 28.05.2025 Target price: 4,10 Euro Target price on sight of: 12 Monate Last rating change: 20.07.2020: Hochstufung von Hinzufügen auf Kaufen Analyst: Dr. Karsten von Blumenthal First Berlin Equity  [ … ]

The rise of the "Bitcoin treasury strategy," popularized by MicroStrategy's aggressive Bitcoin accumulation and resulting premium market valuation, has inspired a wave of imitators—firms like Twenty One and SharpLink Gaming—structured primarily to acquire cryptocurrencies as core business assets. While these U.S. companies often trade at significant premiums to their crypto holdings, coinIX stands out by trading at a discount to its net asset value (NAV), despite holding substantial amounts of Bitcoin and Ethereum and boasting a strong investment track record. This valuation discrepancy presents a compelling opportunity, with coinIX offering a lower-risk entry point into the crypto space via a diversified and professionally managed portfolio. With recent crypto market gains, particularly in Ethereum, mwb research’s analysts arrive at a new fair value for coinIX of EUR 2.95 (old: EUR 2.50), supporting a continued BUY recommendation. The full update can be downloaded under research-hub.de/companies/coinIX%20GmbH%20&%20Co%20KGaA

Company Name: Westwing Group SE ISIN: DE000A2N4H07   Reason for the research: Update Recommendation: BUY from: 28.05.2025 Target price: EUR 18.00 Target price on sight of: 12 months Last rating change: Analyst: Henry Wendisch Conference feedback: Poised for profitable growth Strong brand and superior positioning. WEW occupies a  [ … ]

For FY25, KWS expects flat sales on a comparable basis and guides for an EBIT margin of 14–16%, with R&D investments remaining high. mwb research’s forecast is in line, anticipating a slight decline in reported sales due to portfolio effects and EBIT margin to come in at around 15%, supported by solid Q3 FY25 results (published on May 13), which contribute approximately 60% of full-year sales and around 150% of annual EBIT. KWS is well positioned to benefit from rising global food demand, backed by strong seed portfolio and stable financials. With declining net debt and an attractive valuation, the company presents an appealing investment opportunity. mwb research’s analysts reiterate their BUY rating with an unchanged PT of EUR 83.00. Additional insights into the company’s strategy and outlook are expected during mwb research’s “New Food Investor Conference” on June 3, where KWS will open the event with a presentation and Q&A. Follow this link for conference details and registration: https://research-hub.de/conference/new-food. The full update can be downloaded under https://research-hub.de/companies/kws-saat-se-co-kgaa

Company Name: HORNBACH Holding AG & Co. KGaA ISIN: DE0006083405   Reason for the research: Update Recommendation: Buy from: 27.05.2025 Last rating change: Analyst: Ralf Marinoni FY 2024/25: all targets achievedHORNBACH reported a slight increase in net sales for FY 2024/25, reaching EUR 6,200m, primarily driven by the HORNBACH [ … ]

With the launch of the XBC300 Gen2 die-to-wafer system, SUSS has completed its end-to-end hybrid bonding offering, establishing itself as a one-stop shop at a pivotal point of market inflection. This milestone enhances the company’s position at the EUR 4– 5bn+ hybrid bonding market, a key enabler of AI, HBM, and 3D chip architectures. While SUSS has not yet received AI or HBM-related orders for hybrid bonding and broader industry adoption remains gradual, the company confirmed active engagement with 5– 10 potential hybrid bonding customers and will ship an evaluation unit to its U.S.-based demo site in Q3. The next critical step will be to agree on HBM customer evaluations. In the view of mwb research’s analysts, the company is emerging as one of Europe’s unique plays in advanced semiconductor packaging. Thus, the analysts reiterate their BUY and price target of EUR 68.40, implying a substantial upside as advances its hybrid bonding strategy.The full update can be downloaded under https://www.research-hub.de/companies/SUESS%20MicroTec%20SE

At the mwb Defense & Security Conference, Cicor reaffirmed its position as Europe’s leading EMS provider for aerospace and defense, with EUR 200m in pro-forma 2025 A&D sales (28% of revenue). Cicor’s growing pan-European footprint and strong M&A execution support scalable, sovereign manufacturing. The company targets CHF 1bn in sales by 2028, driven by 7–10% organic growth and selective acquisitions. While the EUR 800bn Readiness 2030 initiative and a likely decade-long European rearmament cycle present material upside, tenders and order flow remain limited for now. Following a 32% share price rally, we prefer to wait for further catalysts. We maintain our CHF 120.00 price target and move to HOLD (from BUY). Check https://research-hub.de/events/video/2025-05-20-11-30/CICN-SW for a recording. The full update can be downloaded under https://www.research-hub.de/companies/Cicor%20Technologies%20Ltd

Company Name: Scandinavian Astor Group AB ISIN: SE0019175274   Reason for the research: Update Recommendation: BUY from: 27.05.2025 Target price: SEK 40.00 Target price on sight of: 12 months Last rating change: Analyst: Henry Wendisch Keeping the news flow up, decisive order and team add Topic: Last week, Astor’s subsidia [ … ]