Company Name: SFC Energy AG ISIN: DE0007568578   Reason for the research: Update Recommendation: Buy from: 20.11.2024 Target price: 31,00 Euro Target price on sight of: 12 Monate Last rating change: 16.02.2021: Hochstufung von Hinzufügen auf Kaufen Analyst: Dr. Karsten von Blumenthal First Berlin Equity Research hat ein Res [ … ]

Company Name: Advanced Blockchain AG ISIN: DE000A0M93V6   Reason for the research: Research Comment Recommendation: Kaufen Target price: 10.75 EUR Target price on sight of: 31.12.2025 Last rating change: Analyst: Matthias Greiffenberger, Marcel Goldmann The peaq token was ultimately listed at a price of $0.50 but subsequently s [ … ]

ZEAL’s Q3 showcases the transformative potential of its charity lotteries and games segments, paving the way for reduced dependence on its core business while unlocking exciting growth opportunities and enhancing profitability. While licensing restrictions on cross-selling and a small games catalog suppress qoq performance, the games segment grew 101% yoy to EUR 2.3m, with ZEAL shifting its focus to expanding and optimizing its game portfolio (currently 200+ titles) rather than aggressive marketing. Building on this momentum, Traumhausverlosung has emerged as a standout, generating EUR 8.6m in billings from 417k users, with ZEAL retaining 43.5% as revenue—3x the billing margin of its core business. In light of the enormous potential waiting to be unlocked, mwb research’s analysts reiterate their BUY rating and maintain a PT of EUR 58.00.The full update can be downloaded under https://www.research-hub.de/companies/ZEAL%20Network%20SE

FCR Immobilien AG showed a resilient performance in the first nine months of 2024 despite difficult market conditions. Total revenues increased by 29% to EUR 35.7m, mainly due to proceeds from property disposals of in total EUR 8.8m. Rental income remained stable at EUR 26.9m. Funds From Operations (FFO) decreased to EUR 5.3m due to higher financing costs, which were partially offset by cost savings in various areas, demonstrating the company's efficiency. Profit before tax (EBT) was a solid EUR 6.4m. The turnaround in interest rates from June 2024 promises to have a positive impact on financing and future acquisitions. FCR is proving resilient in the dynamic market environment and is well positioned for sustainable success in the German real estate market. mwb research’s analysts therefore reiterate their BUY recommendation with an unchanged target price of EUR 20.50. The previous full update can be downloaded under https://www.research-hub.de/companies/FCR%20Immobilien%20AG

The share price of Atoss Software has declined by 15% over the past 30 days, now trading near mwb research’s price target of EUR 116.00. Strong 9M 2024 results, including a 37% yoy growth in Cloud & Subscriptions and a 25% surge in EBIT, prompted an upgrade to the company’s FY24 outlook. However, international expansion has not kept pace with expectations, with growth in non-DACH markets failing to outstrip DACH region performance. This area may become the centerpiece of Atoss’ strategy beyond 2025. Following the recent share price development, the analysts upgrade the stock to HOLD while maintaining their price target. The full update can be downloaded under https://www.research-hub.de/companies/ATOSS%20Software%20SE

Company Name: Vidac Pharma Holding Plc ISIN: GB00BM9XQ619   Reason for the research: Update Report Recommendation: Buy from: 20.11.2024 Target price: EUR 4.90 (unchanged) Target price on sight of: 36 months Last rating change: - Analyst: Peter Thilo Hasler Vidac Pharma has been granted a broad and exclusive patent by the United [ … ]

As part of ThyssenKrupp's FY 23/24 report, tk nucera announced a significant increase in revenues in Q4 23/24 (fiscal year: October 1 to September 30), which mwb research’s analysts expect to reach EUR 243m, up 52.6% yoy, driven by progress on major projects, particularly in the AWE segment. However, the company expects EBIT to decline due to higher start-up costs and a lower gross margin as a result of higher AWE sales. mwb research’s analysts expect a negative EBIT of EUR -27m in Q4 23/24. Order intake for FY23/24 is expected to be EUR 630m (mwb est. and consensus), slightly higher than last year's EUR 614m, with growth in the AWE segment and a decline in CA orders. While market conditions remain challenging, the hydrogen sector is expected to grow in the long term. tk nucera continues to expand its production and research efforts to capitalize on future opportunities. mwb research’s analysts maintain their positive long-term outlook and their BUY rating with a PT of EUR 13.50. On November 21, mwb research will host an online roundtable with tk nucera, register here for free https://research-hub.de/events/registration/2024-11-21-11-00/NCH2-GR. The full update can be downloaded under https://www.researchhub.de/companies/thyssenkrupp%20nucera%20AG%20&%20Co%20KGaA

Delivery Hero (DH) is moving ahead with the IPO of Talabat, slated for mid-December 2024 on the Dubai Financial Market. Talabat, a leader in food delivery and quick commerce in the MENA region, is set to raise EUR 1.4-1.5bn (15% of outstanding shares), with shares already fully subscribed. Valued at EUR 9-10bn, Talabat plans generous dividends targeting 90% net income payout. DH intends to use the proceeds to optimize its capital structure, focus on core markets like South Korea, and reduce debt. The IPO underscores DH’s strategic execution and positions it to enhance shareholder value while maintaining control over Talabat. mwb research’s analysts reiterate their BUY rating with an unchanged PT of EUR 49.00. The full update can be downloaded under https://www.research-hub.de/companies/Delivery%20Hero%20SE

Rheinmetall’s CMD showcased the company’s positioning to capitalize on a global surge in defense spending. With a EUR 60bn order backlog, reaffirmed FY24 guidance of EUR 10bn in sales (+40% yoy), and ambitious 2027 targets of EUR 20bn in sales and an 18% operating margin, the growth story is compelling. Strategic U.S. expansion, underpinned by recent acquisitions, advanced products, and major tenders worth EUR 54bn, will boost Rheinmetall´s growth. Additionally, ongoing geopolitical tensions, including the Ukraine conflict and Trump´s presidency, further amplify demand for Rheinmetall’s defence solutions, underlining its role as a key beneficiary of increasing global defense budgets. mwb research’s analysts reiterate their BUY rating with a price target of EUR 650.00. The full update can be downloaded under https://www.research-hub.de/companies/Rheinmetall%20AG

Kontron has secured a significant EUR 65m contract in the rail infrastructure sector, consolidating its position as a leader in the digital transformation of transport. The company will develop and implement an innovative platform for an interlocking system of a major European signaling provider. This landmark contract represents a pivotal moment in Kontron's journey towards technological excellence and innovation, demonstrating its commitment to improving global rail safety and operational efficiency. Kontron's ability to deliver complex, mission-critical systems for modern transport infrastructure therefore reinforces mwb research’s investment thesis on Kontron as an innovative leader in the IoT space. The analysts therefore reiterate their BUY rating with an unchanged PT of EUR 35.00. The full update can be downloaded under: https://www.research-hub.de/companies/research/Kontron%20AG