Deutsche Börse: RBC resumes coverage with 'buy' rating.

(CercleFinance.com) - On Monday RBC Capital Markets resumed coverage of Deutsche Börse shares, with an "outperform" rating and a target price of 95 euros, saying the stock's benefits more than outweigh its challenges.


"There are challenges, but the positives are too numerous to ignore," RBC says, citing its 10% EPS growth per year, a discount in terms of its valuation relative to peers, positive exposure to both volatility and higher interest rates, and a 1 billion euro envelope in free cash to conduct M&A.

However, the brokerage firm believes that the challenges (MiFID II, a weak start to 2017, no takeover potential, ongoing investigations) are already priced in, and "well-known and understood" by the market.



Copyright (c) 2017 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.