euromicron AG
12.04.2016 - Equity Research Einzelstudie // kaufen
Research Report (Anno) – euromicron AG - english
| For the original study, please click here |
ISIN: DE000A1K0300
Branche: Industrie-Maschinenbau-Technologie-Automotive
Rating: kaufen
Kurs bei Erstellung in €: 6,16
Kursziel in €: 12,10
Mögl. Interessenskonflikt gem. §34b Abs.1 WpHG und FinAnv: 5a;5b;11
We regard the management of euromicron AG as having been successful in effectively reorganising the Group. Even if the figures in 2015 were negatively impacted by the reorganisation, it is clear that the foundations for profitable growth have been laid for future years. The first signs of success are already evident and we are confident that the Company will return to its previous strong income position in the next few years.
On the basis of the expected development and of our forecasts, the shares of euromicron AG are currently trading at a favourable P/B ratio of around 0.5 and a 2017 P/E ratio of around 7. This means a significant undervaluation can be assumed. Based on our DCF model we calculate a fair value of €12.10 per euromicron share. Given the high upside potential, we rate it a BUY.
Wichtiger Hinweis:
Bitte beachten Sie den Disclaimer/Risikohinweis sowie die Offenlegung möglicher Interessenskonflikte nach §34b WpHG /FinAnV auf unserer Webseite.
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