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Vienna Stock Exchange: Winners and Losers (2010-11-30)

Published: November 30, 2010; 17:36 · (Vindobona)

Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.

Vienna Stock Exchange: Winners and Losers (2010-11-30) / Picture: ©

Andritz: Berenberg Bank increased the price target from € 73.00 to € 77.00. The recommendation “Buy” has been confirmed. Andritz has experienced a strong recovery in base orders and the quarterly run-rate has expanded to around € 900m. The strong cash generation and negative working capital situation have led to more than € 1.00bn of liquid assets in Q3. Accordingly, Andritz has communicated that it will increase its payout ratio from 50% to 60% in the next few years.

CA Immobilien AG: After the merger with its subsidiary operating in CEE, CA Immobilien International AG, the holding now disposes of approximately 87.8m shares. In order to issue the volume of 597.460 new shares, CA Immobilien AG had to effect a capital increase.

SRC Research cuts the target price for s Immo from € 8.00 to € 7.50. “Buy” has been confirmed. „Operating results were very satisfying. Butt he results showed that s Immo has to make futher expendures in order to meet its targets. Furthermore, we expect a higher tax ratio for the whole year.”, SRC Research comments.

HSBC raised the price target for Raiffeisen Bank International (RBI) from 37.00 to 41.00. “Neutral” rating has been retained. UBS maintained its “Buy” recommendation. The target price amounting to 44.00 has been confirmed too. Expected EPS for 2010 were increased by 9%.

Today, ATX declined by 1.17% closing at 2,608.72.

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