flatexDEGIRO: Berenberg raises target price
(CercleFinance.com) - Berenberg on Thursday raised its target price for the flatexDEGIRO share from 51 euros to 67 euros after the online broker launched a new mobile application in Germany.
The broker - which has a "buy" rating on the shares - said the new "flatex next" app is intented to further expand the company's growth potential, based on simplified, intuitive processes and clear language.
The application targets a less-trading-experienced clientele compared to its existing core target segment of highly active retail investors, Berenberg said.
The broker hailed these efforts.
"We like the company's strategic initiative to transition towards becoming a mass market broker with a significantly larger addressable market", Berenberg added.
In its report, the broker pointed out that 2020 so far has been an "exceptional year" for online brokers such as flatexDEGIRO, which have benefited from strong customer and activity growth across the sector.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker - which has a "buy" rating on the shares - said the new "flatex next" app is intented to further expand the company's growth potential, based on simplified, intuitive processes and clear language.
The application targets a less-trading-experienced clientele compared to its existing core target segment of highly active retail investors, Berenberg said.
The broker hailed these efforts.
"We like the company's strategic initiative to transition towards becoming a mass market broker with a significantly larger addressable market", Berenberg added.
In its report, the broker pointed out that 2020 so far has been an "exceptional year" for online brokers such as flatexDEGIRO, which have benefited from strong customer and activity growth across the sector.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.