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Vienna Stock Exchange: Winners and Losers (2011-06-08)

Published: June 8, 2011; 17:53 · (Vindobona)

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

Vienna Stock Exchange: Winners and Losers (2011-06-08) / Picture: © Vindobona.org

Initial coverage of Flughafen Wien by HSBC: “Underweight” and a target price of €39.00. The analysts of Kepler give a “Reduce” and a target price of € 34.45. Citigroup cut from € 50.00 to € 40.00. The “Hold” recommendation has been confirmed.

Kapsch TrafficCom was downgraded by Macquarie from “Outperform” to “Neutral”. The analysts reduced from € 61.00 to € 54.00, which is the lowest target price at the moment. Kapsch is going to present its figures for the financial year 2010/11 today, Wednesday.

RCB and Erste Group gave first statements on Intercell after termination of the S aureus vaccine study. Daniel Damaska, RCB: “We will reduce the target price by another € 2.50 as we delete S aureus and the cash component from our valuation model. From today’s point of view, the liquidity will be used up within 12 months. The target price (previously € 6.60) and the recommendation (previously “Hold”) are currently suspended.” Vladimira Urbankova, Erste Group: “The new corporate strategy is not a big surprise, for a closer assessment we will wait for the conference call. The termination of the S aureus study is bad news, however, it should already be priced in to a great extent. We only assumed a probability of 10% for the vaccine. Nonetheless, the loss of investors’ confidence will be felt for a long time. Intercell maintains its status as a potential turnaround-candidate, but it will be a bumpy road for the company.”

Best Five
voestalpine +1.10%
Semperit +0.60%
OMV +0.05%
conwert -0.04%
Wienerberger -0.76%


Worst Five
Intercell -22.19%
SBO -3.55%
Zumtobel -3.10%
Andritz -3.02%
RHI -2.64%
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