Viromed Medical AG has signed a transformative five-year exclusive distribution agreement with Korea-based UMECO Group for its cold plasma devices, ViroCAP and PulmoPlas, targeting medical and dermatological applications across ten Asian markets. The deal includes a USD 5m upfront license fee and purchase commitments totaling EUR 152.5m through 2028, with a focus likely on ViroCAP due to its applications in high-demand aesthetic treatments like acne and rosacea. UMECO, a specialist in medical and beauty device distribution, is well-positioned to leverage Southeast Asia’s large aesthetics market. Viromed is confident in ramping up production. Reflecting the deal's significance and reduced investor risk, mwb research’s analysts increase the price target to EUR 12.50 (from EUR 7.40) and now rate the share as a BUY (from Speculative BUY). For more first-hand information, we invite you to register for our roundtable with CEO Uwe Perbandt tomorrow, 03 April, here: https://research-hub.de/events/registration/2025-04-03-13-00/VMED-GR The full update can be downloaded under https://www.research-hub.de/companies/Viromed%20Medical%20AG

Wolftank Group is expanding its hydrogen infrastructure footprint with the ACTIVA H2 project in Spain, which focuses on developing a hydrogen refueling station to support hydrogen mobility in urban areas and the Trans-European Transport Network. This initiative follows a series of projects in Italy and strengthens Wolftank's position in the growing hydrogen market in southern Europe. The project could pave the way for further infrastructure developments across Europe, especially as both Spain and Italy have set ambitious hydrogen targets. With these prospects, Wolftank is well-positioned for continued growth, and the expansion of its Hydrogen & Renewables segment could lead to further opportunities in the future. mwb research’s analysts maintain their BUY rating and EUR 20.00 target price, as they see substantial long-term growth potential. The full update can be downloaded under https://www.research-hub.de/companies/Wolftank-Adisa%20Holding%20AG

Company Name: Lisata Therapeutics Inc ISIN: US1280583022   Reason for the research: Update Recommendation: Buy from: 01.04.2025 Target price: USD 15.00 Target price on sight of: 12 months Last rating change: - Analyst: Christian Orquera First Berlin Equity Research has published a research update on Lisata Therapeutics, Inc. (IS [ … ]

Company Name: SFC Energy AG ISIN: DE0007568578   Reason for the research: Update Recommendation: Buy from: 01.04.2025 Target price: 31,00 Euro Target price on sight of: 12 Monate Last rating change: 16.02.2021: Hochstufung von Hinzufügen auf Kaufen Analyst: Dr. Karsten von Blumenthal First Berlin Equity Research hat ein Res [ … ]

Performance One AG reported preliminary FY24 figures broadly in line with expectations. Revenue came in slightly below forecast at EUR 9.3m, while EBITDA of EUR -0.5m met guidance and expectations. The company is undergoing a strategic transformation into a holding focused on digital health and AI, supported by a capital increase of up to EUR 0.84m. A key milestone was the ZPP certification of its mental health app harmony, enabling health insurance reimbursement and boosting its competitive edge. While short-term dilution limits upside, the strategic realignment, improved profitability outlook, and strong positioning in high-growth segments support mwb research’s BUY rating with an unchanged price target of EUR 4.40. mwb research will organize a roundtable with CEO Denis Lademann on Wednesday, April 9th at 14.00 CEST. If you are looking for more in-depth insights, you can register here: https://researchhub.de/events/registration/2025-04-09-14-00/PO1-GR. The full update can be downloaded under https://www.research-hub.de/companies/research/Performance%20One%20AG

At a recent virtual roundtable hosted by mwb research, Schloss Wachenheim AG’s CFO Boris Schlimbach shared insights into the group’s current business performance and strategic roadmap. As one of Europe’s leading sparkling wine producers, the company maintains a strong presence across Germany, France, and CEE, with a diversified portfolio and a growing focus on non-alcoholic alternatives. The lively Q&A session highlighted solid momentum in this segment, supported by new production capacity and flavour innovation. Distribution remains B2B-focused, and international exposure is well-managed. The roundtable reaffirmed mwb research’s analysts view of the company’s disciplined, forward-looking approach, combining complexity and coherence. The analysts continue to see value in the name and reiterate their BUY rating with a EUR 22.00 price target. Find the recording here: https://research-hub.de/events/video/2025-03-27-14- 30/SWA-GR. The full update can be downloaded under https://www.research-hub.de/companies/Schloss%20Wachenheim%20AG

Siltronic’s Q1’25 report is likely to reflect ongoing headwinds, with sales expected to decline to around EUR 330m (-4% yoy) and a resilient ~25% EBITDA margin (-1.4pp yoy), as persistent customer destocking continues to weigh on volumes. While near-term sentiment remains fragile and the outlook lacks a clear catalyst, potentially justifying the discount, mwb research’s analysts see early signs of stabilization, with FY25 likely marking the trough and 2026 potentially resuming yoy growth, albeit from a lower base. Trading at 0.7x P/B, below historical downturn levels, valuation appears compelling. With exposure to long term structural growth drivers and LTAs intact providing short-term visibility and stability, the analysts maintain their BUY rating and a PT of EUR 65.00, pricing in and leaning toward a cautiously optimistic mid-term recovery in the stock, fueled by gradually easing inventory pressure and reacceleration in demand especially in 2026. Still, sentiment remains fragile and uncertainty prevails in the near term. The full update can be downloaded under https://research-hub.de/companies/Siltronic%20AG

mwb research’s analysts initiate coverage of Ernst Russ AG (ER) with a BUY recommendation and a PT of EUR 10.00 offering an upside potential of 75.4%. ER, founded in 1893, is an international shipowner operating at the intersection of asset management, shipping operations, and financial services. The company currently manages a fleet of 26 vessels valued at c. USD 460m. ER's resilience in the competitive shipping industry is underpinned by financial strength, operational efficiency, and a long-term charter strategy. Despite short-term headwinds, ER is well-positioned for future growth, expecting healthy over the cycle ROCE of ~25% and over the cycle (10 yrs.) FCF generation of > EUR 40m p.a. The company's hidden reserves, indicated by a 50% disparity between market and book value of assets, further suggests significant untapped value, particularly as ER is now entering a phase of active portfolio management. The previous full update can be downloaded under https://research-hub.de/companies/ernst-russ-ag

Cancom confirmed its preliminary FY24 results, reporting 14% revenue growth to EUR 1,74bn and EBITDA of EUR 113m, slightly below prior year. A strong performance in the International segment compensated for weak business in Germany, Cancom's core market, which was flat. The outlook for FY25 is cautious: management expects a weak first half of FY25 with potential declines in revenues and earnings, with recovery expected only in H2. The German government's stimulus package is not expected to support IT spending in FY25 and is only expected to have an impact from H2 FY26. mwb research’s analysts lower their FY25 estimates, introduce FY27 estimates and maintain their BUY rating with a lowered PT of EUR 27.20 (old EUR 29.00). The full update can be downloaded under https://www.research-hub.de/companies/Cancom%20SE

Aixtron has announced that it will supply its G10-AsP system to Nokia for the production of 6-inch indium phosphide (InP) wafers used in photonic integrated circuits (PICs). This is a strategic move as Nokia expands its InP-based PIC capabilities following its acquisition of Infinera in 2024. While current industry production is focused on 2-inch and 4-inch wafers, the move to 6-inch signals a push towards scalability. The PIC market, valued at USD 6.4bn in 2025, is forecast to grow to USD 54.5bn by 2035, driven by demand in AI data centres, telecoms, sensors and quantum computing. Although silicon currently dominates, InP is expected to gain significant share, providing a major growth opportunity for Aixtron. mwb research’s analysts reiterate their BUY rating with a price target of EUR 19.50. For more first-hand information from the company, mwb research invites you to register for the roundtable on 8 April with VP IR Christian Ludwig: https://research-hub.de/events/registration/2025-04-08-12-00/AIXA-GR. The full update can be downloaded under https://www.research-hub.de/companies/AIXTRON%20SE