SRH AlsterResearch AG: Research update Fielmann AG

Upgrade to BUY with unchanged price target EUR 69.00

Hamburg (pta025/06.10.2021/16:47 UTC+2)

AlsterResearch has published an update on Fielmann AG: Since its peak in February, Fielmann’s shares have lost c. 22% in value. After having re-rated in the recent market turmoil, AlsterResearch believes that Fielmann now offers an attractive entry point with approx. 22% upside potential, especially as Fielmann offers a high-quality business model, structural growth potential and a rock-solid balance sheet. AlsterResearch therefore upgrades the stock from HOLD to BUY with unchanged PT of EUR 69.00. Note that an attractive dividend yield of nearly 3% (2021E eAR) additionally appeals and serves as downside protection. For full details, please visit the ResearchHub.

About AlsterResearch: AlsterResearch is an independent equity research house, providing MiFID II-compliant research on more than 50 German stocks. The research is available on the digital research platform ResearchHub or via an EMail subscription free of charge or obligations. AlsterResearch also regularly hosts roadshows, roundtables and conferences with key people in interesting companies.

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