Analyst research
The following is a list of material analyses and (short) studies from the past twelve months. For obvious reasons we are unable to provide a neutral overview of all the research available in the market on ThyssenKrupp shares.
Analyst report
April 2012
| Broker |
Analyst |
Title |
Date |
| Credit Suisse |
Michael Shillaker |
"Tough times prevail" |
April 20, 2012 |
| Davy |
Kilian Murphy |
"American Dream back on track; investigation shows that Brazilian plant has turned a corner; upgrading rating to 'outperform'" |
April 18, 2012 |
| Commerzbank |
Ingo-Martin Schachel |
"Sector headwinds, but company-specific risks improving" |
April 16, 2012 |
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March 2012
| Broker |
Analyst |
Title |
Date |
| Exane BNP Paribas |
Sylvain Brunet |
"Softer steel markets. Lower free cash-flow generation impacts valuation" |
March 29, 2012 |
| Nomura |
Neil Sampat |
"ThyssenKrupp – Buying for a Materials segment recovery" |
March 29, 2012 |
| Credit Suisse |
Michael Shillaker |
"Update following mgmt meetings" |
March 15, 2012 |
| Silvia Quandt Research |
Eerik K.D. Budarz |
"Steel standing - and elevated by Technology" |
March 07, 2012 |
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February 2012
| Broker |
Analyst |
Title |
Date |
| UBS |
Carsten Riek |
„FY 2011/12 – Another Tough Year“ |
February 21, 2012 |
| Steubing |
Michael Broeker |
“Outokumpu/Inoxum: Die beste
Lösung für Europa“ |
February 17, 2012 |
| Kepler |
Rochus Brauneiser |
“2011 reloaded” |
February 16, 2012 |
| Royal Bank of Canada |
Timothy Huff |
“Lowering price target to €21/share” |
February 16, 2012 |
| Bank of America/
Merrill Lynch |
Cedar Barnes |
“SOTP is not enough…
Downgrade to Underperform” |
February 15, 2012 |
| Bankhaus Metzler |
Lars Hettche |
“Steel Americas remains THE problem
child in the group” |
February 15, 2012 |
| Credit Suisse |
Michael Shillaker |
“Compelling if Management Deliver” |
February 15, 2012 |
| Exane BNP Paribas |
Sylvain Brunet |
“Cautious outlook; net debt back in
the spotlight” |
February 15, 2012 |
| HSBC |
Thorsten Zimmermann |
“Where is the catalyst?” |
February 15, 2012 |
| MM Warburg |
Björn Voss |
“ThyssenKrupp” |
February 15, 2012 |
| Société Générale |
Alain William |
“Free cash flow generation may
remain a key concern” |
February 15, 2012 |
| Bankhaus Lampe |
Marc Gabriel |
“ Q1 dürfte den Tiefpunkt markiert
haben“ |
February 14, 2012 |
| Bankhaus Metzler |
Lars Hettche |
“Disposal of Inoxum would give considerable strategic leeway” |
February 03, 2012 |
| MM Warburg |
Björn Voss |
“Inoxum: nice deal! What comes next?” |
February 02, 2012 |
| Exane BNP Paribas |
Sylvain Brunet |
“Carving out stainless steel” |
February 02, 2012 |
| Kepler |
Rochus Brauneiser |
„Cutting the Gordian knot“ |
February 01, 2012 |
| DZ Bank |
Dirk Schlamp |
“ ThyssenKrupp erzielt wichtigen Meilenstein beim Konzernumbau – FV neu 24 (22) Euro“ |
February 02, 2012 |
| Commerzbank |
Ingo-Martin Schachel |
“Better merger terms” |
February 01, 2012 |
Nach oben
January 2012
| Broker |
Analyst |
Title |
Date |
| Citigroup |
Anindya Mohinta |
“Getting ready for Valentine’s Day” |
January 30, 2012 |
| Commerzbank |
Ingo-Martin Schachel |
“Two best-in-class divisions for
the price of one” |
January 26, 2012 |
| Credit Suisse |
Michael Shillaker |
“Timeline to a Major rerating” |
January 20, 2012 |
| Steubing |
Michael Broeker |
“Quo Vadis Brasilien?” |
January 19, 2012 |
| Cheuvreux |
Alexander Haissl |
“Management poised to take
action on SteelAmericas'
ongoing problems” |
January 09, 2012 |
Top
December 2011
| Broker |
Analyst |
Title |
Date |
| UBS |
Carsten Riek |
"Technology now in focus; but Materials remains the short-term swing factor " |
December 21, 2011 |
| MainFirst |
Alexander Hauenstein |
"Feedback Tech CMD" |
December 09, 2011 |
| Commerzbank |
Ingo-Martin Schachel |
"Technologies in the driver's seat" |
December 08, 2011 |
| Bankhaus Lampe |
Marc Gabriel |
„FY 2010/11 - VERLUSTE STATT GEWINNE" |
December 08, 2011 |
| Citigroup |
Anindya Mohinta |
“Delayed, Not Dead” |
December 06, 2011 |
| Bank of America/Merrill Lynch |
Cedar Barnes |
"Steel America's still dragging" |
December 06, 2011 |
| Deutsche Bank |
Bastian Synagowitz |
"Q4 review – outlook a disappointment" |
December 05, 2011 |
Top
November 2011
| Broker |
Analyst |
Title |
Date |
| NoveCitigroup |
Anindya Mohinta |
“ThyssenKrupp AG - Event: Full-Year Earnings“ |
November 30, 2011 |
| Credit Suisse |
Michael Shillaker |
“ThyssenKrupp AG - PRE RESULTS COMMENT PRE RESULTS COMMENT” |
November 29, 2011 |
| Bankhaus Metzler |
Lars Hettche |
“ThyssenKrupp” |
November 28, 2011 |
| Societe Generale |
Alain William |
“ThyssenKrupp - FY12e earnings should be down despite Steel Americas ramp-up” |
November 25, 2011 |
| Deutsche Bank |
Bastian Synagowitz |
“ThyssenKrupp - Q4 preview” |
November 24, 2011 |
| Bankhaus Lampe |
Marc Gabriel |
„ThyssenKrupp – FY 2010/11 PREVIEW |
November 10, 2011 |
Top
October 2011
| Broker |
Analyst |
Titel |
Datum |
| UBS |
Carsten Riek |
"Best long-term story for patient investors" |
October 31, 2011 |
| Citigroup |
Anindya Mohinta |
“CSA site visit – what we saw, and learnt” |
October 20, 2011 |
| HSBC |
Thorsten Zimmermann |
"OW: Notes from the road – feedback from CSA site visit" |
October 18, 2011 |
| MM Warburg |
Björn Voss |
"ThyssenKrupp" |
October 17, 2011 |
| Deutsche Bank |
Bastian Synagowitz |
"Feedback from CSA visit" |
October 16, 2011 |
Nach oben
September 2011
| Broker |
Analyst |
Title |
Date |
| MainFirst |
Alexander Hauenstein |
"Adjusting estimates to flattish 2012 after CFO roadshow" |
September 16, 2011 |
Top
August 2011
| Broker |
Analyst |
Title |
Date |
| Bankhaus Lampe |
Marc Gabriel |
"Q3-Review – Verbesserungen bei Steel Americas" |
August 17, 2011 |
| Citigroup |
Anindya Mohinta |
“Guidance Maintained + No Extra Americas Losses = Short Covering” |
August 16, 2011 |
| MM Warburg |
Björn Voss |
"ThyssenKrupp" |
August 15, 2011 |
| Credit Suisse |
Michael Shillaker |
"Refocus on Structural Value" |
August 15, 2011 |
| Deutsche Bank |
Bastian Synagowitz |
"Structural story intact – reiterating Buy" |
August 03, 2011 |
Top
July 2011
| Broker |
Analyst |
Title |
Date |
| Citigroup |
Anindya Mohinta |
“It’s time to have another look” |
July 26, 2011 |
| Commerzbank |
Ingo-Martin Schachel |
“Strong performance: Dilution from placing, but EPS still up” |
July 22, 2011 |
| UBS |
Saurabh Kothari |
"Still more upside” |
July 21, 2011 |
| HSBC |
Thorsten Zimmermann |
“OW: Buying flexibility, which has
value” |
July 13, 2011 |
| Royal Bank of Canada |
Timothy Huff |
“Great Expectations” |
July 08, 2011 |
Top
June 2011
| Broker |
Analyst |
Title |
Date |
| HSBC |
Thorsten Zimmermann |
"OW: Curb your divestment enthusiasm, focus on value" |
June 23, 2011 |
| Unicredit |
Christian Obst |
"Upgrade to Hold" |
June 20, 2011 |
| Berenberg |
John Philipp Klein |
"The new ThyssenKrupp" |
June 15, 2011 |
| CA Cheuvreux |
Alexander Haissl |
"Divestments and efficiency gains accelerate re-rating; TP raised to EUR60" |
June 06, 2011 |
| Credit Suisse |
Michael Shillaker |
"History defines the future?" |
June 06, 2011 |
Top
May 2011
| Broker |
Analyst |
Title |
Date |
| DZ Bank |
Dirk Schlamp |
"ThyssenKrupp" |
May 20, 2011 |
| MaynFirst Bank AG |
Alexander Hauenstein |
"ThyssenKrupp" |
May 19, 2011 |
| Bankhaus Lampe |
Marc Gabriel |
"Q2 mit Wachstum/Portfolio wird verschlankt" |
May 18, 2011 |
| Deutsche Bank |
Bastian Synagowitz |
"ThyssenKrupp: Into a new era; raising target price to E4" |
May 17, 2011 |
| Société Générale |
Alain William |
"Strategic realignment will take time to materialise" |
May 17, 2011 |
| Nomura |
Jeff Largey |
"Raising estimates and raising PT to €40" |
May 16, 2011 |
| Kepler |
Rochus Brauneiser |
"hyssenKrupp: Better than simply more" |
May 16, 2011 |
| Commerzbank |
Ingo-Martin Schachel |
"Next part of the re-rating: Best-in-class margins in focus" |
May 16, 2011 |
| MM Warburg |
Björn Voss |
"ThyssenKrupp" |
May 16, 2011 |
| Exane BNP Paribas |
Vincent Lepine |
"Superior short-term earnings visibility - Restructuring plans moving into execution" |
May 16, 2011 |
| Bank of America/Merrill Lynch |
Nik Oliver |
"Strong Q2 but reality check on restructuring" |
May 16, 2011 |
| JP Morgan |
Alessandro Abate |
"Revolutionary thinking: upgrade TP to €44" |
May 16, 2011 |
| Credit Suisse |
Michael Shillaker |
"ThyssenKrupp: Special Structural Story" |
May 16, 2011 |
| Goldman Sachs |
Kartik Swaminathan |
"hyssenKrupp: First Take: Beats expectations; guidance reiterated" |
May 13, 2011 |
| Citi |
Anindya Mohinta |
"ThyssenKrupp" |
May 13, 2011 |
| BHF-Bank |
Hermann Reith |
"ThyssenKrupp: - 2Q10/11 earnings better than expected" |
May 13, 2011 |
| CA Cheuvreux |
Alexander Haissl |
"Strong Q2-10/11; outlook confirmed" |
May 13, 2011 |
| WestLB |
Ralf Dörper |
"ThyssenKrupp Q2 at first glance: still on track to reach an ambitious target" |
May 13, 2011 |
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