(News Bulletin 247) – Berenberg announced on Tuesday that it had raised its price target on flatexDEGIRO from 11 to 12.5 euros while renewing its buy recommendation on the stock.
After the fall of some 70% in the share price last year, the analyst believes that it is again time to look into the case of this ‘structural’ winner in the online brokerage segment.
‘Given the revision of market forecasts, reasonably cautious objectives communicated by management, additional income linked to the rise in interest rates and volumes of activity which have soared among individuals since January , everything militates for a revaluation of the action, which is traded at only 11 times its expected profits in 2023 ‘, concludes the intermediary.
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