Delivery Hero (DH) has encountered a series of challenges after a rather strong performance in 2024. The Taiwan Fair Trade Commission (TFTC) blocked the proposed USD 950 million sale of its foodpanda business to Uber, citing competition concerns. Additionally, DH’s Talabat IPO, while raising EUR 1.9bn, saw a 7.5% first-day share price decline. Regulatory issues with its Glovo subsidiary in Spain further compounded recent headwinds. Despite these setbacks, DH’s operational performance had been solid in the first 9 months, and the company showed promising progress in improving its financial situation. mwb research’s analysts confirm their BUY rating with a price target of EUR 45.00. The full update can be downloaded under https://www.research-hub.de/companies/Delivery%20Hero%20SE

With the completion of its fab sale to Littelfuse, Elmos has begun a new chapter as a fabless powerhouse, unlocking access to top-notch technology from world-class foundry partners like TSMC, enhancing its flexibility, and improving its risk profile. This transformation positions Elmos to thrive in the accelerating autonomous driving revolution, as Waymo leads the charge with tripled yoy paid trips and global expansion, while Tesla and Zoox push the boundaries with bold, innovative concepts. Regulatory backing, such as the NHTSA’s new guidelines, signals readiness for mainstream adoption, fueled by a projected EUR 480bn ride-sharing market by 2032. As vehicle autonomy advances, with L2+ projected to rise from 25% today to over 60% by 2030 and L3-L6 from 0.5% to 7%, Elmos stands out by leveraging its global leadership in Ultrasonic Sensor ICs to capitalize on rising demand, perfectly aligning with its EUR 1bn sales target by 2030. While the industry is experiencing short-term softness, long-term growth catalysts remain intact. mwb research views Elmos as a compelling play for 2025 and beyond, supported by its tactical shift to a fabless powerhouse, attractive valuation, and strategic initiatives paving the way for a record-breaking FCF year in 2025. mwb research’s analysts remain bullish and reiterate their BUY rating with a EUR 105.00 price target. The full update can be downloaded under https://research-hub.de/companies/Elmos%20Semiconductor%20SE