| 30.04.2012 |
Close Brothers |
Veysel Taze |
Sell |
Details
|
| "... considering the recent rally in the stock and the lack of short-term share catalysts we think the valuation is stretched. Thus we change our recommendation from HOLD to SELL with an unchanged PT EUR 73.00/share. ..." |
| 26.04.2012 |
FairResearch |
Heinz Steffen |
Sell |
|
| |
| 26.04.2012 |
WestLB |
Wolfgang Fickus |
Add |
Details
|
| "Pfeiffer Vacuum is expected to release its Q1 12 set of results on May 3rd. ... We expect guidance to remain unchanged. We see more upside surprise than downside risk to our Q1 12 estimates. ..." |
| 12.04.2012 |
Goldman Sachs |
Christian Reinecke |
Buy |
|
| |
| 05.04.2012 |
Commerzbank |
Norbert Kretlow |
Buy |
Details
|
| "After hosting a roadshow and conducting background research, we consider Pfeiffer Vacuum’s outlook to raise the EBIT margin from 12% in 2011 to 20% in 2014 clearly in reach. ..." |
| 27.03.2012 |
Hauck & Aufhäuser |
Henning Breiter |
Hold |
|
| |
| 27.03.2012 |
equinet Bank |
Adrian Pehl |
Accumulate |
|
| |
| 27.03.2012 |
Berenberg Bank |
Stephan Klepp |
Hold |
Details
|
| "Pfeiffer Vacuum is a high-quality company with a ROCE potential of more than 20%. We consider the stock to be interesting for investors with a two- to three-year investment horizon. ..." |
| 27.03.2012 |
Bankhaus Lampe |
Gordon Schönell |
Sell |
|
| |
| 26.03.2012 |
WestLB |
Wolfgang Fickus |
Add |
Details
|
| "Order intake trends continued to be positive at the beginning of FY2012, clearly encouraging in contrast to the cautious assessment of the economic cycle. ..." |
| 26.03.2012 |
Commerzbank |
Norbert Kretlow |
Add |
|
| |
| 26.03.2012 |
Bank of America Merrill Lynch |
Claus Roller |
Buy |
|
| |
| 20.03.2012 |
Commerzbank |
Norbert Kretlow |
Add |
Details
|
| "We reiterate our Add recommendation, expecting the semiconductors market to turn around in H2 2012. ..." |
| 16.03.2012 |
WestLB |
Wolfgang Fickus |
Add |
|
| |
| 01.03.2012 |
Goldman Sachs |
Christian Reinecke |
Buy |
Details
|
| "... we significantly increase our 2013 EBIT estimate by 34% as we now assume a recovery in the semis equipment capex cycle. ..." |
| 22.02.2012 |
WestLB |
Wolfgang Fickus |
Add |
Details
|
| "Following the release of the preliminary headline figures of Pfeiffer Vacuum we make changes to our earnings model and reiterate our ADD rating with an unchanged target price of €94. The improved order intake has positive implications for our FY2012 top-line and earnings estimates due to more favourable cycle assumptions. ..." |
| 21.02.2012 |
Bankhaus Lampe |
Gordon Schönell |
Sell |
|
| |
| 20.02.2012 |
Commerzbank |
Norbert Kretlow |
Add |
Details
|
| "We raise our target price to € 88 from € 63. We raise our rating to Add from Hold because we believe that the expected pick up in earnings momentum in H2 2012 will provide a further tailwind, though limited somewhat by current uncertainty. ..." |
| 17.02.2012 |
WestLB |
Wolfgang Fickus |
Add |
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| |
| 17.02.2012 |
Hauck & Aufhäuser |
Henning Breiter |
Hold |
|
| |
| 17.02.2012 |
Exane BNP Paribas |
Gerhard Orgonas |
Outperform |
Details
|
| "Q4 margin impacted by integration costs but solid orders. ..." |
| 17.02.2012 |
Equinet Bank |
Adrian Pehl |
Accumulate |
|
| |
| 17.02.2012 |
DZ Bank AG |
Harald Schnitzer |
Hold |
|
| |
| 17.02.2012 |
Deutsche Bank |
Uwe Schupp |
Hold |
Details
|
| "Overall results are much weaker than expected and significantly impacted by higher than expected purchase price allocation (PPA) related to the acquisitions of Adixen. ..." |
| 17.02.2012 |
Berenberg Bank |
Stephan Klepp |
Hold |
|
| |
| 15.02.2012 |
Hauck & Aufhäuser |
Henning Breiter |
Buy |
Details
|
| "For the full year, our assumptions are slightly more optimistic than the latest company guidance of € 520m sales and 15% EBIT margin and consensus estimates. We would not expect the company to outperform our estimates given that management said on a conference end of November, that chances to exceed the margin target are only limited. ..." |
| 09.02.2012 |
equinet |
Adrian Pehl |
Accumulate |
Details
|
| "...we upgraded our model assumptions in particular for the semiconductor related part of PFV’s business and since we abstain from a fully-fledged recessionary scenario. ..." |
| 09.02.2012 |
Commerzbank |
Norbert Kretlow |
Hold |
Details
|
| "Pfeiffer Vacuum has scheduled the release of preliminary 2011 data for Friday, 17 February. We believe that underlying operations performed in line with our original expectations, however, we are concerned about the uncertainty from the first time recognition of PPA deprecation and amortisation from the Adixen acquisition. ..." |
| 08.02.2012 |
Berenberg Bank |
Stefan Klepp |
Hold |
Details
|
| "Downgrade to Hold: Following the strong ytd increase of c.25%, the stock price has strongly converged towards our price target of EUR84. Based on the currently limited upside and valuation being in line with the company’s historical average, we downgrade our recommendation from Buy to Hold. ..." |
| 06.02.2012 |
Fairresearch |
Heinz Steffen |
Sell |
Details
|
| "We changed our recommendation from “BUY” to “SELL” because the price target of €83 per share has nearly been reached. ..." |
| 16.01.2012 |
Berenberg Bank |
Stephan Klepp |
Buy |
|
| |
