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Vienna Stock Exchange: Winners and Losers (2011-07-20)

Published: July 20, 2011; 17:58 · (Vindobona)

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

Vienna Stock Exchange: Winners and Losers (2011-07-20) / Picture: © Vindobona.org

Immofinanz has been upgraded to “Outperform” by Credit Suisse. The target price was raised from € 2.80 to € 3.70. The analysts expect a strong financial year 2011. “We have substantially increased our EPS (FY11E + 72%, FY12E +47%) and NAVPS (FY11E + 9%, FY12E +10%) estimates due to the re-working of our financial model following the change of primary analyst responsibility, and in reflection of operating performance year to date,” the analysts explained. Investors should focus on five factors: property expenses, an update on operating costs, the management’s EBITDA guidance, news on the sale of funds and the company’s development pipeline.

Erste Group Equity Research recommends OMV, RHI, Immofinanz and voestalpine as top blue chip picks in the second half of the year. In the small and mid cap segment the analysts favor Amag, Kapsch TrafficCom, Polytec and AT&S.

AT&S: After release of the company’s Q1 results the analysts of UniCredit confirmed the “Buy” recommendation and the target price of € 19.00. “We believe that the Q1 results were a low point in this financial year and that the company will achieve strong results in the next three quarter.” Furthermore, they expect capacity utilization to return to a “normal” level.

Best Five
VIG +4.18%
SBO +3.71%
Immofinanz +3.10%
Erste +2.61%
EVN +2.54%


Worst Five
Andritz -2.76%
Post -1.45%
Intercell -0.62%
Zumtobel -0.26%
RHI -0.25%
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