Classification of
Company
ISIN: DE000A1MME74
Reason for the research: Update
Recommendation: Kaufen
from:
Target price:
Target price on sight of: 12 Monaten
Last rating change:
Analyst:
Reassuring roundtable call & value-accretive transaction; chg
Topic: During last week's digital roundtable, hosted by us, the CFO
Value-accretive M&A transaction. The fund initiator
Strong H1 figures ahead: After the record Q1 figures with AuC of € 25.1bn
and gross sales of € 56m, stock markets have reached new all-time highs in
Q2, providing confidence that
Consolidation of the insurance brokerage market in full swing. The Groups proprietary, 360° finfire platform is seen to fuel consolidation of the insurance broker market that is, in contrary to the investment adviser market, still highly fragmented. Thanks to finfire, the selling and managing of insurance products is much easier unlocking enormous cross-selling potentials, as the already onboarded investment adviser can additionally offer a wide range of insurance products to its customers. finfire hence remains the company´s key mid- to long term growth and scalability driver. The expected strong organic growth momentum is expected to be accompanied by further value-accretive M&A deals that has to come at reasonable price, as management underlined during the virtual roundtable.
Overall, we see
BUY with a new PT of € 74.00 (old: € 73.00), based on DCF.
You can download the research here:
http://www.more-ir.de/d/30169.pdf
For additional information visit our website
www.nuways-ag.com/research.
Contact for questions
Web: www.nuways-ag.com
Email: research@nuways-ag.com
LinkedIn: https://www.linkedin.com/company/nuwaysag
Adresse: Mittelweg 16-17, 20148
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The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.