Today, Gerresheimer (GXI) announced that it signed a purchase agreement to acquire the Bormioli Pharma Group, an Italy-based specialist for pharmaceutical primary packaging made of glass and plastic. Gerresheimer expects to leverage substantial synergies given the strategic fit and complementarity, which will accelerate its ongoing transformation into an integrated systems and solutions provider. The transaction valuation is not too far away from Gerresheimer’s own valuation, which suggests that Gerresheimer is not overpaying. Due to the attractive financials, the company is likely to upgrade its medium-term guidance after closing. mwb research confirms the PT of EUR 120.00 and the BUY rating. The full update can be downloaded under https://www.research-hub.de/companies/research/Gerresheimer%20AG

mwb research initiates coverage of Siltronic AG with a BUY recommendation and a PT of 94.00 offering an upside potential of 24%. Siltronic, a pioneering Western-based supplier of hyperpure silicon wafers, holds a global market presence with over 50 years of industry expertise and a 14% share in a highly consolidated market. Its unique value proposition lies in its advanced technology and innovative capabilities. The company excels particularly in the leading-edge 300mm wafers and 200mm wafers tailored for the power segment. With the electronics industry gaining momentum and the semiconductor industry projected to double by 2030, driven by AI, autonomous vehicles, and electromobility, Siltronic is strategically positioned to leverage these megatrends, enhancing growth through initiatives such as FabNext and the site expansion in Freiberg. According to the mwb research DCF model, Siltronic is trading below its fair value with a 24% upside potential, presenting a compelling investment opportunity, especially if megatrend trajectories materialize as anticipated. The full update can be downloaded under https://research-hub.de/companies/Siltronic%20AG

Q1 in line with expectations // FY24e guidance confirmed Einhell released Q1 results in line with expectations, showing healthy top and bottom line growth versus Q1’23 and Q4’23. Despite an ongoing depressed consumer sentiment, sales grew by 7.8% yoy to € 270m (eNuW: € 265m), driven by higher demand for the company’s [ … ]

123fahrschule (123fs) informed on the latest events in a very informative investor call. The topics were 1) the acquisition of FOERST GmbH, 2) the potential of new business models with driving simulators and 3) the current developments in the FY 2024. For the use of simulators in training, the regulatory change will have to be awaited (expected this year). However, the sale of simulators in Germany and international sales will have an impact on the figures from closing (expected July 1, 2024) in H2 2024, which is why mwb research's analysts are adjusting their estimates. The experts see the acquisition of FOERST as strategically important rather than a major contributor to revenues and earnings in 2024 and 2025. 123fs remains practically the only beneficiary of the liberalization and digitalization of the driving school market, which is why mwb research sees significant growth potential and reiterates the BUY rating with an increased price target of EUR 6.80 (old EUR 6.60).The full update can be downloaded under https://www.research-hub.de/companies/research/123fahrschule%20SE

Massive FY'24 guidance cut / recommendation under review CLIQ released appalling preliminary Q1’24 results, especially on the margin side, and significantly adjusted its FY’24 guidance that had been issued only two months earlier. On the back of the implied limited visibility on the operational developments we put the rating Under Rev [ … ]

FY23 as expected // key holding with favourable developments Topic: 029 published FY23 figures. As 029 holds only minority stakes and reports under German HGB (no mark-to-market valuation), it was a non-event. Yet, its key assets continue to perform well. As 029 had no divestments during FY23 (Emerald Stay was sold in Feb. 2024), the company ge [ … ]

Strong Q1 // Odal shortfall covered by warranties Topic: Cloudberry reported strong Q1 figures despite production shortfalls at the Odal wind farm (covered by warranties). A final investment decision for its transformative 175MW PV park in Denmark is expected until the end of the year. Q1 consolidated revenues grew by 89% yoy to NOK 129m, lar [ … ]

First Berlin Equity Research hat ein Research Update zu PNE AG (ISIN: DE000A0JBPG2) veröffentlicht. Analyst Dr. Karsten von Blumenthal bestätigt seine BUY-Empfehlung und bestätigt sein Kursziel von EUR 21,00. Zusammenfassung: PNE hat die Zahlen für das erste Quartal vorgelegt und eine Telefonkonferenz abgehalten. Der Umsatz  [ … ]

First Berlin Equity Research hat ein Research Update zu Energiekontor AG (ISIN: DE0005313506) veröffentlicht. Analyst Dr. Karsten von Blumenthal bestätigt seine BUY-Empfehlung und bestätigt sein Kursziel von EUR 126,00. Zusammenfassung: Energiekontor (EKT) hat ihren Zwischenbericht für Q1/24 veröffentlicht, der einen qu [ … ]

In the Interview: Christian Keck, President of the Board and CEO of EasyMotionSkin   GBC AG: Could you please provide a brief introduction to EasyMotionSkin Tec AG? What are the main goals and core competencies of your company, and how do you differentiate yourselves from your competitors?   EasyMotionSkin Tec AG, with its established f [ … ]