Prime Market

Börse Express – analysts on Vienna Airport, Marinomed, Palfinger and Vienna Insurance Group

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Hauck & Aufhäuser confirms the Buy recommendation for Palfinger – and increases the target price from EUR 34.0 to EUR 35.0. Last closing price: 20.35 euros – average target price: 23.45 euros. Last closing price: 20.35 euros – average target price: 27.06 euros.

HSBC confirms the Reduce recommendation for Vienna Airport – and increases its target price from EUR 30.0 to EUR 23.0. Last closing price: EUR 26.85 – average target price: EUR 23.45.

HSBC is resuming the suspended recommendation for Vienna Insurance Group with a hold – and names 21.2 euros as a target price. Last closing price: 20.35 euros – average target price: 23.45 euros.

FMR Research confirms the Buy recommendation for Marinomed – and increases the target price from EUR 129.0 to EUR 134.0. Last closing price: 118.0 euros – average short term: 134.85 euros.

(Bloomberg/red)

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Börse Express – Addiko Bank: AGM decided on a conditional dividend of 2.05 euros for 2019 / subject to two conditions

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At today’s virtual general meeting, the shareholders of Addiko-Bank resolved a conditional dividend of EUR 2.05 per share for the 2019 financial year, as the bank announced on Friday. The payment of the dividend is dependent on two conditions.

On the one hand, the fact that before or at the latest by the publication of the 2020 annual financial statements on March 10, 2021, neither a recommendation by the ECB nor a legally prescribed prohibition on dividend distribution will prevent a payment, and that the Common Equity Tier 1 capital ratio (CET1) of Addiko Bank AG (and Addiko Group) is not below 18.6 percent after such a distribution. The payment day for the dividend is the 20th working day after both conditions have been met.

Since the disclosure in the first half of 2020, Addiko Bank AG (and the Addiko Group) have consistently aligned themselves with a capital ratio of more than 19 percent (CET1) for the end of 2020, whereby the proposed dividend for 2019 has already been deducted.

At today’s general meeting, Herbert Juranek and Frank Schwab were newly elected to the supervisory board after supervisory board chairman Hans Lotter and his deputy Henning Giesecke, as already announced, resigned at the end of the general meeting and left the supervisory board. The supervisory board consists of six shareholders, two women and four men.

Addiko Bank AG was also authorized to purchase treasury shares up to 10 percent of the share capital for a period of 30 months from the date of the resolution by the general meeting for the purpose of offering shares to employees, executives and members of the management board and supervisory board.

itz/sp

 ISIN  AT000ADDIKO0
 WEB   https://www.addiko.com/

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Börse Express – Oil prices inconsistent

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Oil prices initially did not find a clear direction on Friday. In the morning, a barrel (159 liters) of North Sea Brent cost $ 47.81. That was two cents more than at the close of trading the previous day. The price for a barrel of the US West Texas Intermediate (WTI), however, fell by 70 cents to 45.01 dollars.

Most recently, oil prices have fallen again after reaching their highest level since the first Corona wave in spring during the week. The prospect of virus vaccines soon available is providing a boost to the oil market. The hope is that restrictions to contain the pandemic could then be removed, which would benefit the economy and increase oil consumption. Rapid and widespread vaccinations are unlikely, however.

In this situation, the major oil-producing countries will have to decide on their production policy at the beginning of next week. It is expected that the Opec + oil network, contrary to the previous plan, will not increase its production at the beginning of 2021, but will instead continue existing production limits. In this way, the association would react to the short-term economic dampener as a result of the current virus wave./bgf/mis

AXC0071 2020-11-27/08:00

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Börse Express – Analysts for Andritz, Mayr-Melnhof, Raiffeisen Bank International, Valneva, Varta and Verbund

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Societe Generale confirms the Buy recommendation for Raiffeisen Bank International – and reduces its target price from EUR 20.0 to EUR 19.0. Last closing price: 15.05 euros – average target price: 18.02 euros.

Goldman Sachs re-rates Andritz with a Buy recommendation – and names EUR 41.0 as a target price. Last closing price: 33.74 euros – average target price: 38.25 euros.

Kepler Cheuvreux confirms the Buy recommendation for Mayr-Melnhof – and increases the target price from EUR 164.0 to EUR 166.0. Last closing price: 149.2 euros – average target price: 155.25 euros.

RCB confirms the hold recommendation – and increases its target price from EUR 150.0 to EUR 154.0.

Barclays confirms the recommendation equal to underweight for Verbund – and the target price from 44.0 to 43.0 euros. Last closing price: 54.2 euros – average target price: 44.83 euros.

First Berlin confirms the buy recommendation for Valneva – and reduces the target price from 9.1 to 8.4 euros. Now no longer the highest of all course targets. Last closing price: EUR 5.61 – average target price: EUR 7.31.

MM Warburg confirms Varta’s recommendation to sell – and increases its target price from EUR 80.0 to EUR 85.0. Also the lowest of all course targets. Last closing price: 114.8 euros – average target price: 119.6 euros.

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Börse Express – Analysts for EVN, Varta, Verbund and voestalpine

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Commerzbank confirms the Reduce recommendation for voestalpine – and increases the target price from 14.0 to 22.0 euros. Now no longer the lowest of all course targets. Last closing price: 25.55 euros – average target price: 21.81 euros.

Wr. Privatbank confirms the recommendation to sell – and increases the price target from 18.2 to 20.0 euros.

Barclays reduced the recommendation of Equalweight to underweight for Verbund – and the target price from 44.0 to 43.0 euros. Last closing price: 54.15 euros – average target price: 44.83 euros.

RCB confirms the Buy recommendation for EVN – and increases its target price from 19.0 to 20.0 euros. Last closing price: 14.78 euros – average target price: 17.75 euros.

Commerzbank confirms the Hold recommendation for Varta – and reduces the target price from 125 to 115 euros. Last closing price: 115.5 euros – average target price: 119 euros.

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Börse Express – analysts on ams, Andritz, CA Immo, Immofinanz, Mayr-Melnhof, Polytec UBM, Wienerberger

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Kepler Cheuvreux confirms the Hold recommendation for Andritz – and reduces the target price from EUR 34.0 to EUR 32.0. Last closing price: 32.58 euros – average target price: 38.16 euros.

On Field Inv. new rating Wienerberger with the recommendation neutral – and 24.0 euros as a target price. Last closing price: 23.96 euros – average target price: 25.84 euros.

Kepler Cheuvreux confirms the Buy recommendation for Immofinanz – and reduces the target price from EUR 20.0 to EUR 15.0. Last closing price: 13.45 euros – average target price: 19.16 euros.

Kepler Cheuvreux confirms the buy recommendation for CA Immo – and reduces the target price from 35.0 to 32.0 euros. Last closing price: EUR 26.85 – average target price: EUR 35.75.

RCB increases UBM’s recommendation from hold to buy – and reduces its target price from EUR 43.0 to EUR 39.0. Now the lowest of all course targets. Last closing price: 32.0 euros – average target price: 42.67 euros.

Kepler Cheuvreux confirms the Buy recommendation for Mayr-Melnhof – and increases the target price from EUR 158.0 to EUR 164.0. This sets the only highest price target to date. Last closing price: 13.45 euros – average target price: 19.16 euros.

RCB confirms the Buy recommendation for Polytec – and increases its target price from EUR 7.0 to EUR 8.0. Last closing price: 6.0 euros – average target price: 7.72 euros.

Kepler Cheuvreux confirms the Buy recommendation for ams – and increases the price target from CHF 27.0 to CHF 28.0. Last closing price: 22.24 CHF – average target price: 25.32 CHF.

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Börse Express – Vienna Stock Exchange (opening) – ATX slips into the red in the morning / Profits in bank stocks curb downward movement of the ATX – Still no decision in the US presidential election

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The Vienna Stock Exchange showed slight price losses on Friday morning. The domestic lead index ATX turned negative after initial spikes and lost 0.34 percent to 2,168.53 units by 10:05 a.m., the ATX Prime fell 0.33 percent to 1,108.71 points. The five-day profit streak of the leading index seems to be coming to an end for the time being.

There is still no decision in the US presidential election, but everything points to a victory for Joe Biden. In the midst of the hangover over the outcome of the US election, the Federal Reserve is preparing the ground for new economic aid. It left the key interest rate in the range of zero to 0.25 percent on Thursday and at the same time kept the door open for new emergency aid in the corona pandemic.

In addition, worries about rising corona numbers are likely to lead to increasing uncertainty again. “The virus continues to spread unchecked in the USA,” writes Commerzbank. The numbers are also increasing in Europe, but there are initial signs that the spread of the virus is slowing, the experts continue.

In Vienna, the heavily weighted banks have ensured that the ATX decline has not been quite as severe so far. Erste Group was able to gain 1.17 percent, BAWAG rose by 1.10 percent and Raiffeisen Bank International only posted a small minus of 0.15 percent. From a sector perspective, construction stocks fell. Strabag lost 1.32 percent, at Porr the minus was 1.30 percent so far.

After submitting quarterly figures, Polytec moved into focus among the individual values. The loss of the auto supplier increased to 10.4 million euros after nine months, after a profit of 14.1 million euros in the same period last year. After initial losses, the shares remained unchanged at EUR 5.70.

Andritz slipped 3.70 percent to 30.18 euros. Commerzbank and Deutsche Bank have raised the price target for the stocks after the results were presented the day before from EUR 36 to EUR 38 and confirmed the “Buy” recommendation.

kat / mik

 ISIN  AT0000999982

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Börse Express – Vienna Stock Exchange (opening) – ATX slightly weaker in the morning / leading index down 0.23 percent – Negative environment after weak Asia targets

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The Vienna Stock Exchange presented itself with slight price losses on Friday morning. The ATX started the session weaker, but was able to contain the discounts quickly and was at 2,029.50 points at 9:45 a.m., which is a drop of 4.69 points or 0.23 percent.

The European stock exchange environment also started trading with discounts. In particular, the current tightening of restrictions in numerous countries and their economic consequences are causing uncertainty. In addition, the specifications for the Asian markets were negative.

The shares of Palfinger were a good three percent weaker according to the figures. The Salzburg crane manufacturer felt the corona crisis. Even if the economy recovered in the third quarter, the company was unable to compensate for the massive slump in the first half of the year.

The bigger losers also included DO&CO with minus 2.9 percent and Vienna Airport, which fell 2.2 percent. FACC and Mayr-Melnhof were each around 1.8 percent in the red.

Voestalpine was 1.4 percent weaker among the index heavyweights. In contrast, Verbund was able to increase by 0.9 percent. The domestic bank stocks showed little change with exchange rate losses of between 0.1 and 0.5 percent.

In a strong European oil sector, domestic industry representatives were also able to make up ground. Schoeller-Bleckmann headed the list of winners in the prime market with a price increase of 1.25 percent. OMV improved slightly by 0.2 percent.

The ATX Prime was listed at 1,036.78 points, 0.28 percent or 2.9 points lower. In the prime market, eleven stocks showed higher prices, 19 lower prices and four unchanged. There has been no price formation in four stocks so far. Up to 9.45 a.m., a total of 639,464 shares were traded in single counting with a market value of 12.993 million euros (double counting).

ger / sto

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Börse Express – Analysts on Bawag, Erste Group, Raiffeisen Bank International, Verbund and voestalpine

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Societe Generale confirms the Buy recommendation for Erste Group – and reduces its target price from EUR 26.0 to EUR 25.0. Last closing price: 18.34 euros – average target price: 27.3 euros.

HSBC confirms the recommendation to buy – and increases the target price from 27.0 to 28.0 euros.

HSBC increases Raiffeisen Bank International’s recommendation from Hold to Buy – and its price target from 17.0 to 18.0 euros. Last closing price: 13.34 euros – average target price: 19.18 euros.

HSBC confirms the Buy recommendation for Bawag – and increases its target price from EUR 44.0 to EUR 46.0. Last closing price: 34.24 euros – average target price: 40.98 euros.

Kepler Cheuvreux confirms the Reduce recommendation for voestalpine – and increases the target price from EUR 15.0 to EUR 16.0. Last closing price: 25.2 euros – average target price: 20.77 euros.

Kepler Cheuvreux increases the recommendation from Reduce to Buy for Verbund – and the price target from EUR 30.0 to EUR 60.0. From lowest to highest of all price targets. Last closing price: 52.15 euros – average price target: 43.8 euros.

(Bloomberg/red)

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Börse Express – ‘SZ’: Decision on Wirecard sale in November

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The insolvency administrator of the scandal group Wirecard expects the decision to sell the core business of the insolvent payment service provider in November. The lawyer Michael Jaffé writes in a letter to the employees, about which the “Süddeutsche Zeitung” reported (Saturday). “A decision can be expected by November at the latest,” the newspaper quoted from Jaffé’s letter. The examinations by the two interested parties have come a long way. The lawyer did not name the two potential buyers, according to the report it is the Spanish bank Santander and the British cell phone company Lycamobile.

In addition, Jaffé complains in the letter that the company was “emptied in the months before bankruptcy” – which means that managers are supposed to have systematically put money aside before bankruptcy. In this regard, the former sales director Jan Marsalek, who has gone into hiding and who is being sought by the Munich public prosecutor, is suspected. The investigators accuse Marsalek, the former CEO Markus Braun and other suspects of organized gang fraud. They are said to have tricked banks and investors with falsified balance sheet figures over three billion euros./cho/DP/he

 ISIN  ES0113900J37  DE0007472060

AXC0019 2020-10-25/15:10

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