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Equity Research

Our research approach has been the foundation for many good investment ideas leading to market outperformance.

 

Market Research

Sector Research, Index changes and more.

Newest Reports

14 November 2025

FY 2025 guidance confirmed

Mister Spex

Target price

 

Recommendation

 

Buy

13 November 2025

Tailwind for year-end targets

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

07 November 2025

Q3-25: Development more than solid

Zalando SE

Target price

 

Recommendation

 

Buy

06 November 2025

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No fresh short-term catalysts

Schaeffler AG

Target price

 

Recommendation

 

04 November 2025

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Strong 9M, guidance confirmed

PSI Software AG

Target price

 

Recommendation

 

03 November 2025

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Everything will be fine if the Sateba integration goes well

Vossloh AG

Target price

 

Recommendation

 

27 October 2025

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9M 2025: Despite no tailwind from the macro side, stable development

Villeroy & Boch AG

Target price

 

Recommendation

 

27 October 2025

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Strong margin improvements

Serviceware SE

Target price

 

Recommendation

 

27 October 2025

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Cloud stable, services weigh down

Intershop Communications AG

Target price

 

Recommendation

 

27 October 2025

1E weakness pressures growth – guidance cut

TeamViewer AG

Target price

 

Recommendation

 

Buy

22 October 2025

The next increase of FY 2025 guidance

MBB SE

Target price

 

Recommendation

 

Buy

08 October 2025

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Strong H1 figures - Swissnet accelerates international expansion

Swissnet AG

Target price

 

Recommendation

 

30 September 2025

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Q2-25/26 very solid development; full year guidance confirmed

Hornbach Holding & Co. KGaA

Target price

 

Recommendation

 

26 September 2025

Stable Revenues, Guidance Confirmed

MPC Capital AG

Target price

 

Recommendation

 

Buy

22 September 2025

sponsored

2028 goals; Need to increase volume

Schaeffler AG

Target price

 

Recommendation

 

03 September 2025

sponsored

Solid H1 Result - Strong Charter Rates

Ernst Russ AG

Target price

 

Recommendation

 

03 September 2025

sponsored

Acquisition of Sobek group to accelerate growth in defence unit

Deutz AG

Target price

 

Recommendation

 

29 August 2025

Q2-25: Gross margin increase of 504 basis points to 53.7%

Mister Spex

Target price

 

Recommendation

 

Buy

26 August 2025

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Business model remains stable and growth-oriented

Delticom AG

Target price

 

Recommendation

 

26 August 2025

Enterprise business well on track

TeamViewer AG

Target price

 

Recommendation

 

Buy

25 August 2025

sponsored

The next major contract

Daldrup & Söhne AG

Target price

 

Recommendation

 

18 August 2025

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Structural advantages result in strong resilience

Reply SPA

Target price

 

Recommendation

 

14 August 2025

Solid H1-25 development

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

12 August 2025

sponsored

H1-25 figures not too bad, but FY 2025 guidance suspended

CLIQ Digital AG

Target price

 

Recommendation

 

06 August 2025

Q2 figures and new FY 2025 guidance following “About You” takeover

Zalando SE

Target price

 

Recommendation

 

Buy

04 August 2025

sponsored

H1-25 development: no major surprise

Villeroy & Boch AG

Target price

 

Recommendation

 

31 July 2025

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Strong rise in orders, efficiency gains from 2026 likely

PSI Software AG

Target price

 

Recommendation

 

29 July 2025

sponsored

Guidance cut but AI and restructuring offer upside

Intershop Communications AG

Target price

 

Recommendation

 

28 July 2025

sponsored

AI drives solid H1 growth

Serviceware SE

Target price

 

Recommendation

 

28 July 2025

sponsored

Mixed picture but mid-term targets remain intact

GFT Technologies SE

Target price

 

Recommendation

 

28 July 2025

sponsored

Daldrup wins tender for major geothermal energy contract

Daldrup & Söhne AG

Target price

 

Recommendation

 

25 July 2025

sponsored

On Track for Profitable Growth

Vossloh AG

Target price

 

Recommendation

 

Sectors

Top Picks

06 November 2025

sponsored

No fresh short-term catalysts

Schaeffler AG

Target price

 

Recommendation

 

03 November 2025

sponsored

Everything will be fine if the Sateba integration goes well

Vossloh AG

Target price

 

Recommendation

 

22 September 2025

sponsored

2028 goals; Need to increase volume

Schaeffler AG

Target price

 

Recommendation

 

03 September 2025

sponsored

Acquisition of Sobek group to accelerate growth in defence unit

Deutz AG

Target price

 

Recommendation