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In the Research & Ratings section, you can access assessments from renowned analyst firms that specialize in the due diligence and valuation of companies that are generally listed on the stock exchange. Starting from the research reports, you can access further research tools and information with just a few mouse clicks, which offer you additional options for obtaining and assessing information.
Thu, 26.06.2025
https://research-hub.de/companies/Brenntag SE
Recent developments highlight a growing divergence between the structurally stronger Specialties segment and the more challenged Essentials business, where pricing pressure and regional softness persist. Ongoing bolt-on acquisitions support Brenntag’s strategic push into niche and value-added services, though near-term financial impact remains limited. Looking ahead, execution risks around cost discipline, divisional disentanglement, and macro fragility remain elevated. With guidance now skewed toward the lower end, any narrative of resilience must be supported by clear evidence of strategic momentum, including volume recovery and pricing stability, not just cost discipline. That said, mwb research’s analysts believe much of this caution is already priced in. The analysts reiterate their BUY rating and price target of EUR 75.00, supported by strategic positioning and valuation. The full update can be downloaded under https://www.research-hub.de/companies/Brenntag%20SE
Wed, 25.06.2025
https://research-hub.de/companies/Formycon AG
Formycon has appointed Valorum Biologics as U.S. commercialization partner for FYB203, following Coherus’ strategic exit from ophthalmology back in 2024. While Valorum’s leadership brings experience, the firm lacks a commercial track record, introducing execution risk alongside strategic upside. Concurrently, Formycon is placing a EUR 50m corporate bond with strong institutional interest. The yield reflects prevailing market levels for small-cap issuers and aligns with Formycon’s current risk profile. Proceeds will support the commercial rollout and pipeline development. With FYB202 ramping up, and catalysts including FYB203 market entry and FYB206 partnering expected, execution will be critical. mwb research’s analysts reiterate their EUR 50.00 price target and BUY rating. The full update can be downloaded under https://www.research-hub.de/companies/Formycon%20AG
Wed, 25.06.2025
https://research-hub.de/companies/Formycon AG
Formycon has appointed Valorum Biologics as U.S. commercialization partner for FYB203, following Coherus’ strategic exit from ophthalmology back in 2024. While Valorum’s leadership brings experience, the firm lacks a commercial track record, introducing execution risk alongside strategic upside. Concurrently, Formycon is placing a EUR 50m corporate bond with strong institutional interest. The yield reflects prevailing market levels for small-cap issuers and aligns with Formycon’s current risk profile. Proceeds will support the commercial rollout and pipeline development. With FYB202 ramping up, and catalysts including FYB203 market entry and FYB206 partnering expected, execution will be critical. mwb research’s analysts reiterate their EUR 50.00 price target and BUY rating. The full update can be downloaded under https://www.research-hub.de/companies/Formycon%20AG
Wed, 25.06.2025
Flughafen Wien AG
Company Name:
Flughafen Wien AG
ISIN:
AT00000VIE62
Reason for the research:
Update
Recommendation:
Hold
from:
25.06.2025
Target price:
EUR 60.00
Target price on sight of:
12 months
Last rating change:
Analyst:
Henry Wendisch
Summer kick-off at strong levels and above peer group
Topic: Last week, FWAG released May traffic figur [ … ]
Wed, 25.06.2025
https://research-hub.de/companies/Nordex SE
Nordex has announced a major 435.2 MW order from German developer UKA in Q2, including 64 turbines and 20-year service contracts, one of its largest domestic deals. A 160 MW order from Turkey was also announced today. Earlier in the quarter, several smaller contracts in Germany and France were secured. Together, these deals point to strong Q2 order momentum. Demand remains robust, supported by a solid pipeline into late 2024 and early 2025, with an order backlog nearly twice the company’s annual revenue. As Nordex typically announces more deals at quarter-end, further Q2 orders are likely. The strong intake underscores Nordex’s solid position in the expanding European onshore wind market, particularly in Germany. mwb research’s analysts maintain their BUY rating and PT of EUR 20.00, confident in growth and improving profitability, though our midterm estimates remain conservative for now versus the company’s mid-term targets. The full update can be downloaded under https://www.research-hub.de/companies/Nordex%20SE.
Wed, 25.06.2025
https://research-hub.de/companies/Carl Zeiss Meditec AG
Carl Zeiss Meditec (CZM) remains a global leader in ophthalmic and microsurgical technologies, supported by secular growth drivers such as ageing demographics and rising vision disorders. Despite cyclical headwinds in hospital spending and macro uncertainties, the business benefits from a resilient, growing base of recurring revenues. New platforms like KINEVO and VISUMAX, coupled with a good order backlog, provide near-term momentum. While management maintains a cautious FY outlook, current valuation appears compelling after a sharp stock decline by c. 15% since mid-May. With the share price now well below our EUR 65.00 target, mwb research’s analysts upgrade the rating from HOLD to BUY, anticipating margin recovery and product-driven growth. The full update can be downloaded under https://www.research-hub.de/companies/Carl%20Zeiss%20Meditec%20AG
Tue, 24.06.2025
HORNBACH Holding AG & Co. KGaA
Company Name:
HORNBACH Holding AG & Co. KGaA
ISIN:
DE0006083405
Reason for the research:
Update
Recommendation:
Buy
from:
24.06.2025
Target price:
110.00
Last rating change:
Analyst:
Ralf Marinoni
Q1-25/26: strong increase of sales, earnings and cash flowHORNBACH Holding started strong into the current business year; in our [ … ]
Tue, 24.06.2025
Vidac Pharma Holding Plc
Company Name:
Vidac Pharma Holding Plc
ISIN:
GB00BM9XQ619
Reason for the research:
Update Report
Recommendation:
Buy
from:
24.06.2025
Target price:
EUR 4.30 (previously: EUR 4.90)
Target price on sight of:
36 months
Last rating change:
-
Analyst:
Peter Thilo Hasler
Vidac Pharma recently announced encouraging pharmacokinetic r [ … ]
Tue, 24.06.2025
PFISTERER Holding SE
Company Name:
PFISTERER Holding SE
ISIN:
DE000PFSE212
Reason for the research:
Research study (Initial Coverage)
Recommendation:
BUY
Target price:
48.00 EUR
Target price on sight of:
31.12.2025
Last rating change:
Analyst:
Cosmin Filker, Marcel Goldmann
You can download the research here: http://www.more-ir.de/d/32900.pdf
Co [ … ]
Tue, 24.06.2025
Netfonds AG
Company Name:
Netfonds AG
ISIN:
DE000A1MME74
Reason for the research:
Update
Recommendation:
Buy
from:
24.06.2025
Target price:
EUR 78.00
Target price on sight of:
12 months
Last rating change:
Analyst:
Frederik Jarchow
Strong start into FY25 // Guidance upgrade; chg
Netfonds reported promising Q1 figures indicating that the [ … ]