HAUCK AUFHÄUSER INVESTMENT BANKING Upgrades Grenke to 'Buy'
Frankfurt, 27 September 2023
HAUCK AUFHÄUSER INVESTMENT BANKING has upgraded its recommendation for the shares of Grenke AG (ISIN: DE000A161N30) from "Hold" to "Buy". The target price was raised from EUR 13.50 to EUR 17.50.
Analyst Opinion:
Analyst Christian Salis from HAUCK AUFHÄUSER INVESTMENT BANKING justified the upgrade with his positive view of Grenke's business development in the recent past and the attractive entry opportunities that have now arisen.
Salis is positive about Grenke's earnings quality and sees significant potential for further margin improvements. He also sees the company's expansion into new markets and the strengthening of its factoring business as positive. Overall, he believes that Grenke has the potential to deliver above-average earnings growth in the medium term. He therefore upgraded his recommendation to "Buy".
About Grenke AG
Grenke AG (founded in 1977) is a leading global provider of financing solutions for small and medium-sized enterprises (SMEs). The company offers a diverse range of financing products, including leasing, factoring, and debt financing. Grenke operates in 33 countries and employs over 1,800 staff. The company is headquartered in Baden-Baden, Germany.
Important Disclaimer
This press release constitutes marketing communication and does not constitute investment advice or an offer to subscribe for or purchase any financial instruments. The information contained herein has been compiled by HAUCK AUFHÄUSER INVESTMENT BANKING from sources it considers to be reliable. However, HAUCK AUFHÄUSER INVESTMENT BANKING makes no representation or warranty, express or implied, as to the accuracy, completeness or correctness of such information. Opinions and estimates contained herein constitute our judgment as of the date of this press release and are subject to change without notice. Past performance is not a reliable indicator of future performance. The value of investments may go down as well as up. An investor may not get back the amount invested. HAUCK AUFHÄUSER INVESTMENT BANKING accepts no liability whatsoever for any direct or consequential loss arising from the use of this press release or its contents.
For further information, please contact:
HAUCK AUFHÄUSER INVESTMENT BANKING Kim-Kristin Asmus Head of Corporate Communications & Investor Relations Tel.: +49 69 7140-1443 E-Mail: kim-kristin.asmus@hauck-aufhaeuser.com
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