Company Name: Westwing Group SE ISIN: DE000A2N4H07   Reason for the research: Update Recommendation: BUY Target price: EUR 23.5 Target price on sight of: 12 months Last rating change: Analyst: Christian Sandherr Q1 confirms the attractive investment caseWestwing delivered its strongest quarterly growth since 2022, with GMV up 13% [ … ]

Company Name: Scandinavian Astor Group AB ISIN: SE0019175274   Reason for the research: Update Recommendation: BUY Target price: SEK 54 Target price on sight of: 12 months Last rating change: Analyst: Simon Keller NSG turns Astor into a scaled defence platform; PT Up Astor delivered a strong Q1 and announced a transformative step [ … ]

Company Name: Deutsche Beteiligungs AG ISIN: DE000A1TNUT7   Reason for the research: Update Recommendation: BUY Target price: EUR 39 Target price on sight of: 12 months Last rating change: Analyst: Christian Sandherr Q1 out: Deal machine running well NAV discount remains highQ1 NAV per share landed at € 35.29, down from &eur [ … ]

Company Name: GFT Technologies SE ISIN: DE0005800601   Reason for the research: Update Recommendation: BUY Target price: EUR 32 Target price on sight of: 12 months Last rating change: Analyst: Simon Keller Backlog strengthens BUY case GFT's Q1 26 came in bang in line with our expectations. Fx-adj. revenues increased 5% yoy to &eu [ … ]

Company Name: DEMIRE AG ISIN: DE000A0XFSF0   Reason for the research: Update Recommendation: BUY Target price: EUR 0.8 Target price on sight of: 12 months Last rating change: Analyst: Philipp Sennewald Q1 in line with est. but vacancy increases further Yesterday, DEMIRE published its Q1’26 results, coming in broadly in linw [ … ]

Siemens Healthineers (SHL) released its Q2 figures and lowered its FY26 outlook after a mixed performance, mainly due to structural weakness in China Diagnostics and additional supply-chain inflation. The new guidance implies 4.5% to 5.0% revenue growth in constant currency (cc), but reported figures look weaker, with Q2 revenue down 3.9% yoy and H1 down 2.7% yoy. Imaging and Precision Therapy remain solid, growing 6.1% and 4.7% (cc), respectively, while Diagnostics declined 6.5% (cc) and margins fell to 0.9%. We reduce our price target to EUR 49.00 but maintain BUY, as the 23% YTD share price decline likely prices in much of the disappointment. The full update can be downloaded under https://research-hub.de/companies/siemens-healthineers-ag

Krones’ Q1 26 results reflect a solid operational start despite currency-driven revenue headwinds. Strong demand drove order intake up 5.3% to EUR 1.51bn, elevating the backlog to EUR 4.32bn and securing visibility well into the year. While reported revenue fell slightly to EUR 1.38bn, EBITDA margins improved to 10.8%, highlighting excellent cost discipline. The primary weak spots were a planned dip in free cash flow to EUR -9.5m due to working-capital management and softer top-line performance in non-core segments. With a fortress balance sheet boasting EUR 523.1m in net cash and confirmed FY26 guidance (sales growth between 3-5%; EBITDA margin 10.7-11.1%), the fundamental investment case remains fully intact with anticipated top-line acceleration in the H2 26. We reiterate our BUY rating with an unchanged PT of EUR 150.00. The full update can be downloaded under https://research-hub.de/companies/krones-ag

Today’s analyst call at 2pm CEST turned the focus from headline defense spending to the quality of that spending. Rheinmetall remains the best listed European defense platform, but Q1 was weak, the guidance bridge remains messy, and investors are now finally (!) questioning whether traditional land systems and ammunition deserve the same long term multiple as drones, air defence, missiles and digital battlefield solutions. We stay constructive on Rheinmetall’s industrial position, with an unchanged EUR 1,450 price target. HOLD. The full update can be downloaded under https://research-hub.de/companies/rheinmetall-ag

Leifheit delivered a soft Q1 26 but in line with expectations, reflecting continued weak consumer demand across Europe. Revenues declined moderately yoy, while profitability turned negative due to higher marketing and innovation spending aimed at strengthening brand positioning ahead of a potential recovery. Cash flow also weakened, though the balance sheet remains solid and continues to support a stable dividend. Underlying demand trends remained subdued across segments, with no meaningful improvement and the core household business still under pressure. Management confirmed its full-year guidance, pointing to slightly higher revenues but continued near-term earnings pressure, with EBIT broadly in line with FY25 and stable free cash flow expected. Overall, 2026 remains a transition year focused on brand rebuilding and innovation. We view the increased spending as necessary, while Leifheit remains financially well positioned, with a cash position of EUR 21m at the end of Q1 providing sufficient flexibility. We maintain our BUY rating with a PT of EUR 20.00. The full update can be downloaded under https://research-hub.de/companies/leifheit-ag

Company Name: Cantourage Group SE ISIN: DE000A3DSV01   Reason for the research: Coverage Aufnahme Recommendation: Kaufen from: 07.05.2026 Target price: €11 Target price on sight of: 12 Monate Last rating change: - Analyst: Ellis Acklin First Berlin Equity Research hat am 07.05.2026 die Coverage von Cantourage Group SE (ISIN [ … ]