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Rothschild & Co Redburn on Thursday decreased the price target for German stock exchange operator Deutsche Boerse (DB1.F) to 302 euros from 320 euros and kept its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
German shares gained on Tuesday, with the blue-chip DAX index up 0.38% at closing, while Uniper (UN0.F) rose on reports that the German government plans to reduce its ownership.Germany is looking to cut its 99.12% interest in the bailed-out energy company through a possible sale or public listing. The government published a legal notice in the Financial Times print edition on Tuesday, inviting interested buyers to submit letters of intent by June 12. Uniper gained 11.86% on Xetra.In an emailed statement to, Uniper Chief Executive Officer Michael Lewis said the company welcomed the finance ministry's announcement, adding that the German government will decide on the timing and form of the company's reprivatization.In other corporate updates, German stock exchange operator Deutsche Börse (DB1.F) climbed 0.59%, as BofA Global Research raised its price objective and earnings forecasts, noting core structural tailwinds are "intact" even as volume trends normalize."We reiterate our Buy rating with a [price objective] of EUR305/US$$35.47 (from EUR300/US$ $35.39) as we lift 2026-27E EPS 1% for the Q126 beat... plus higher [treasury result] where our economists no longer expect Fed rate cuts until H227. Overall, our 2026 total revenue and EBITDA estimates are in-line with company guidance, but slightly below ex-TR given pressure in ESG & Index which was flat YoY in Q126," BofA wrote.On the trade front, Bloomberg News reported that European Union officials are meeting within the day to finalize the legislative details of the US trade pact. The discussions follow a recent threat from President Donald Trump to raise auto import tariffs to 25% from 15% if the agreement is not implemented by July 4.Speaking of trade, the euro area recorded a trade surplus of 7.8 billion euros in March, following a revised trade surplus of 11.1 billion euros a month ago. Eurostat reported that exports of goods to the rest of the world declined by 5.5% year-over-year to 265.3 billion euros, while imports rose 4.4% to 257.4 billion euros.
Oddo BHF on Tuesday upgraded German bourse operator Deutsche Börse (DB1.F) to outperform from neutral and increased the price target to 300.00 euros from 255.00 euros.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
German equities finished the week on an upbeat note, with the blue-chip DAX index 2.27% higher at Friday's close, as markets digested signals of potential diplomatic progress in the Middle East.Geopolitical tensions showed signs of cooling as a 10-day ceasefire between Lebanon and Israel took hold Thursday. Investors also responded positively to US President Donald Trump saying they are "very close" to reaching an agreement with Iran, adding that talks may resume over the weekend.On this side of the Atlantic, the euro area recorded a trade surplus of 11.5 billion euros in February, following a revised trade deficit of 1 billion euros a month ago. Eurostat reported that exports of goods to the rest of the world declined by 6.7% year-over-year to 232.4 billion euros, while imports saw a 2.2% reduction, settling at 220.9 billion euros.On the corporate side, Deutsche Börse (DB1.F) added 0.62%, as BofA Global Research upgraded its rating and price objective, citing the German exchange operator's solid market positioning amid current uncertainties."We upgrade Deutsche Borse (DB1) to Buy from Neutral with a new [price objective] of EUR300 (ADR $35.39) as we think it is best positioned among European exchanges in the current environment for greater volumes and NII on higher rates and cash balances. Q126 volumes are up double-digit % YoY in cash equities, fixed income derivatives and particularly commodities given energy disruption caused by the Middle East conflict, which has potential to persist. Accordingly, we raise cash EPS 6-7% and are 2-6% above Visible Alpha consensus. Our 2026 and 2028 forecasts now assume DB1's targets are met despite IMS headwinds. We see further EPS upside from the Allfunds (ALLFG) deal if approved (not in our estimates)," the research firm wrote.Meanwhile, German technology group Siemens (SIE.F) plans to seek investor approval for the spinoff of medical technology company Siemens Healthineers (SHL.F) at its annual general meeting in February 2027. As part of the deconsolidation strategy, Siemens Healthineers shares will be distributed directly to existing Siemens shareholders. Siemens gained 3.36%, while Siemens Healthineers was up 1.46% at closing."The slower pace of the SHL spin-off will be disappointing to some investors, though was always a risk given the tight EGM timeframe. We note the longer-term business simplification story is clearly unchanged (and we would expect continued incremental SHL sell-downs on the market over time, in line with prior company comments)," analysts at RBC Capital Markets said in a quick-take note.
BofA Global Research on Friday upgraded Deutsche Börse (DB1.F) to buy from neutral and raised its price targets and EPS estimates, saying the German stock exchange operator is "best positioned" among European peers for higher volumes and net interest income.As such, the price objective was raised to 300 euros from 250 euros. The EPS estimates were also raised to 12.09 euros from 11.33 euros for 2026, 13.42 euros from 12.42 euros for 2027 and 14.75 euros from 13.82 euros for 2028.The company is expected to post strong revenue growth in its power exchange business in 2026 as geopolitical tensions in the Middle East drive a surge in commodities volumes, BofA said in a note.The research firm also sees upside potential in Deutsche Börse's net interest income amid expectations of higher central bank rates, while the company's planned acquisition of Amsterdam-listed fund trading platform Allfunds Group (ALLFG.AS, 0AAL.L) could provide a further boost to EPS.
MP Capital Markets on Wednesday raised German exchange operator Deutsche Börse (DB1.F) to buy from hold and increased its price target to 293.00 euros from 276.00 euros.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Germany shares recovered from earlier losses on Tuesday, with the blue-chip DAX index up 1.27% at closing, amid reports that the US and Iran may return to the negotiating table.US and Iranian negotiators may head back to Pakistan by the end of the week to resume peace talks, Reuters reported, citing sources. The potential for a second round follows a failed weekend summit, which led to Washington's subsequent decision to enforce a naval blockade on Iranian ports."We've lowered our world GDP growth forecast by 0.4 [percentage points] since the start of March to 2.4% because we expect a more prolonged disruption to shipping activity through the Strait of Hormuz. The fragile ceasefire seemingly reduces the risk of a far worse outcome. But even if a truce is maintained, it will take time for energy production and shipping traffic to return to normal levels," Oxford Economics said.Back at home, the International Monetary Fund trimmed its economic growth projections for Germany for 2026 and 2027, due to the ongoing Middle East conflict. In its April World Economic Outlook, the IMF said it now expects Germany's gross domestic product to increase 0.8% and 1.2% in 2026 and 2027, respectively, both figures down by 0.3 percentage point from the previous expectations."War in the Middle East has halted [global growth] momentum. The closing of the Strait of Hormuz and serious damage to critical facilities in a region central to global hydrocarbon supply raise the prospect of a major energy crisis should hostilities continue," the IMF said.Meanwhile, Germany's selling prices in wholesale trade were up 4.1% year over year in March, following a 1.2% jump a month ago. Destatis attributed the reading to the conflict in the Middle East, which pushed wholesale prices of energy products and raw materials higher.In corporate news, Deutsche Börse (DB1.F) committed $200 million for a 1.5% stake in Payward, the parent company of US-based cryptocurrency exchange Kraken. The capital injection reinforces an ongoing strategic partnership, further integrating both firms' infrastructure across trading, custody, settlement, and tokenized assets. The German stock exchange operator was off 0.39% at the end of the trading day.In an earnings preview, Deutsche Bank forecasts a "solid start" for Mercedes-Benz's (MBG.F) vans segment, while the cars unit is projected to "likely reach" the lower half of its full-year guidance during the first quarter. The German automotive group is due to release its first-quarter results on April 29. The stock closed 1.94% higher.