FlatexDEGIRO: Berenberg raises target price

(CercleFinance.com) - Berenberg announced on Tuesday that it has raised its target price for flatexDEGIRO shares from 11 euros to 12.
5 euros, maintaining its buy rating on the stock.

After the share fell by about 70% last year, the analyst believes that it is again time to look at the case of this "structural" winner in the online brokerage segment.

"Rebased market expectations, reasonably conservative management guidance, additional income from higher interest rates and a pick-up in activity levels among retail investors since January bode well for the shares, which are now trading on just 11x 2023E P/E", the broker concludes.


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