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portefeuille (99.61)

Aixtron

Recs

2

March 14, 2010 – Comments (22)

I have written a post on Aixtron here.

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October 13, 2009

Here is a piece of advice I think you might want to consider. Do not bet on the share price of AIXG going down. Quite a few "caps" game players have made an "underperform" call on AIXG lately. Before selling this stock short or buying puts or selling calls on it make sure you have a good reason for doing it. Looking at some P/E or the chart is not enough in this case I am afraid. I will try to add some information in the comment section to this post.

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(from that post)

I have "tracked" some of the "analyst research reports" in the comment section of that post.

Here is an update.

03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10e 0.66 EUR -> 1.11 EUR, eps11e 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10e 0.35 EUR -> 0.43 EUR, eps11e 0.58 EUR -> 0.63 EUR, eps12e 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10e 0.40 EUR -> 0.75 EUR, eps11e 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR,
02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09e 0.37 EUR -> 0.46 EUR, eps10e 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", 26.00 EUR -> 28.50 EUR, eps10e 0.48 EUR -> 0.66 EUR, eps11e 0.55 EUR -> 0.80 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.10/30/09 WGZ Bank, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10e 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10e 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10e 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 Unicredit, "hold" -> "buy", 16.00 EUR -> 23.00 EUR, eps10e 0.53 EUR -> 0.72 EUR, eps11e 0.70 EUR -> 0.90 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10e 355 MEUR -> 420 MEUR, eps10e 0.48 EUR -> 0.60 EUR, rev11e 450 MEUR, eps11e 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 Unicredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

22 Comments – Post Your Own

#1) On March 14, 2010 at 10:49 AM, portefeuille (99.61) wrote:

The average eps estimate is currently at around 0.84 EUR for 2010 and 1.06 for 2011. Aixtron has quite a bit of "net cash" and closed Xetra trading at 25.455 EUR (AIXA:GR) and NASDAQ trading at 34.94 USD (AIXG) on 03/12/10.

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#462) On April 23, 2009 at 4:18 AM, portefeuille (99.97) wrote: AIXG - 7.05 (5.41 EUR) - outperform

#649) On August 01, 2009 at 10:43 PM, portefeuille (99.97) wrote: AIXG - end outperform - 16.58 - new rating: market perform

#818) On October 06, 2009 at 1:25 AM, portefeuille (99.97) wrote: AIXG - end market perform - 27.45 - new rating: outperform

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(from here)

Aixtron is on my "current list of favourites", part of my "little portfolio suggestion" (which is doing alright so far, by the way), one of my suggestions for the tigerpackfund "caps" game player and one of my positions for the tigerpack fund project.

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#2) On March 14, 2010 at 10:57 AM, portefeuille (99.61) wrote:

Aixtron in Frankfurt trading.



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#3) On March 14, 2010 at 11:03 AM, portefeuille (99.61) wrote:

a somewhat related post by chk999 (see the comment section to that post).

First LED Lightbulb

 

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#4) On March 14, 2010 at 11:05 AM, portefeuille (99.61) wrote:

a list of some light/LED/OLED/LCD/display stocks is here.

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#5) On March 14, 2010 at 11:11 AM, portefeuille (99.61) wrote:

I still think it is a very bad idea to have any kind of "short position" in Aixtron. So if you have one, sell your put options or cover your short position. You can think about restarting your short position once Aixtron makes a new all-time high, hehe ...

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#6) On March 14, 2010 at 1:03 PM, portefeuille (99.61) wrote:

AIXTRON reports highly successful final full year 2009 results

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#7) On March 16, 2010 at 12:59 PM, portefeuille (99.61) wrote:

The average eps estimate is currently at around 0.84 EUR for 2010 and 1.06 for 2011.

It is now at around 1.16 EUR for 2010 and 1.21 for 2011.

03/15/10 HSBC, still "overweight", 28.00 EUR -> 31.00 EUR.
03/15/10 WestLB, "add" -> "buy", 25.50 EUR -> 33.40 EUR.
03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10e 0.66 EUR -> 1.11 EUR, eps11e 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10e 0.35 EUR -> 0.43 EUR, eps11e 0.58 EUR -> 0.63 EUR, eps12e 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10e 0.40 EUR -> 0.75 EUR, eps11e 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR.
02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09e 0.37 EUR -> 0.46 EUR, eps10e 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", 26.00 EUR -> 28.50 EUR, eps10e 0.48 EUR -> 0.66 EUR, eps11e 0.55 EUR -> 0.80 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.
10/30/09 WGZ Bank, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10e 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00 EUR.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10e 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10e 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 UniCredit, "hold" -> "buy", 16.00 EUR -> 23.00 EUR, eps10e 0.53 EUR -> 0.72 EUR, eps11e 0.70 EUR -> 0.90 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10e 355 MEUR -> 420 MEUR, eps10e 0.48 EUR -> 0.60 EUR, rev11e 450 MEUR, eps11e 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 UniCredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

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#8) On March 16, 2010 at 1:05 PM, portefeuille (99.61) wrote:

So the P/E using the current eps consensus estimate for 2011 and reducing the price per share by the estimate for "net cash per share at the end of 2010" is now below 20.

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#9) On March 16, 2010 at 6:51 PM, portefeuille (99.61) wrote:

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Semi-Annual Changes to the NASDAQ Clean Edge Green Energy Index

NEW YORK, Mar 15, 2010 (GlobeNewswire via COMTEX News Network) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Clean Edge, Inc. announced today the results of the semi-annual evaluation of the NASDAQ(R) Clean Edge(R) Green Energy Index (Nasdaq:CELS), which will become effective with the market open on Monday, March 22, 2010.

As a result of the evaluation, the following nine securities will be added to the Index: AIXTRON AG (Nasdaq:AIXG), A123 Systems, Inc. (Nasdaq:AONE), Green Plains Renewable Energy, Inc. (Nasdaq:GPRE), Universal Display Corporation (Nasdaq:PANL), Power-One, Inc. (Nasdaq:PWER), Satcon Technology Corporation (Nasdaq:SATC), STR Holdings, Inc. (NYSE:STRI), UQM TECHNOLOGIES, INC. (AMEX:UQM), and Veeco Instruments Inc. (Nasdaq:VECO).

The Index is designed to track the performance of clean-energy companies that are publicly traded in the U.S. The Index includes companies engaged in the manufacturing, development, distribution, and installation of emerging clean-energy technologies such as solar photovoltaics, biofuels and advanced batteries. The five major sub-sectors that the index covers are Renewable Electricity Generation, Renewable Fuels, Energy Storage & Conversion, Energy Intelligence and Advanced Energy-Related Materials. The securities must also meet other eligibility criteria which include minimum requirements for market value, average daily share volume, and price. The Index is evaluated on a semi-annual basis in March and September. For more information about the NASDAQ Clean Edge Green Energy Index, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.

...

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NASDAQ Clean Edge Green Energy Index



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#10) On March 16, 2010 at 7:01 PM, portefeuille (99.61) wrote:

Aixtron is also a component of the TecDAX.




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#11) On April 23, 2010 at 12:53 AM, portefeuille (99.61) wrote:

update.

04/22/10 HSBC, still "overweight", 31.00 EUR -> 34.00 EUR.
04/22/10 Close Brothers Seydler, still "buy", eps10e 1.20 EUR, eps11e 1.87 EUR.
04/22/10 AC Research, still "accumulate".
04/21/10 Goldman Sachs, still "neutral", eps10e 0.95 EUR -> 1.37 EUR, eps11e 1.25 EUR -> 1.55 EUR.
04/12/10 J.P. Morgan Cazenove, still "overweight", still 30.00 EUR.
04/07/10 Independent Research, still "buy", 31.00 EUR -> 34.00 EUR.
04/01/10 Deutsche Bank, still "buy", still 36.00 EUR.
04/01/10 UBS, "buy", 31.00 EUR.
03/17/10 Piper Jaffray, still "underweight", 18.00 EUR -> 21.00 EUR.
03/17/10 UniCredit, still "buy", eps10e 0.78 EUR -> 1.21 EUR, eps11e 0.99 EUR -> 1.71 EUR, 25.00 EUR -> 30.00 EUR.
03/17/10 Credit Suisse, still "neutral", eps10e 1.14 EUR -> 1.47 EUR, eps11e 0.98 EUR -> 1.12 EUR.
03/15/10 WestLB, "add" -> "buy", 25.50 EUR -> 33.40 EUR.
03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10e 0.66 EUR -> 1.11 EUR, eps11e 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10e 0.35 EUR -> 0.43 EUR, eps11e 0.58 EUR -> 0.63 EUR, eps12e 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10e 0.40 EUR -> 0.75 EUR, eps11e 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR,
02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09e 0.37 EUR -> 0.46 EUR, eps10e 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", eps10e 0.48 EUR -> 0.66 EUR, eps11e 0.55 EUR -> 0.80 EUR, 26.00 EUR -> 28.50 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.10/30/09 WGZ Bank, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10e 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10e 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10e 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 Unicredit, "hold" -> "buy", eps10e 0.53 EUR -> 0.72 EUR, eps11e 0.70 EUR -> 0.90 EUR, 16.00 EUR -> 23.00 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10e 355 MEUR -> 420 MEUR, eps10e 0.48 EUR -> 0.60 EUR, rev11e 450 MEUR, eps11e 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 Unicredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

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#12) On May 06, 2010 at 6:05 AM, portefeuille (99.61) wrote:

update.

The average eps estimate is currently at around 1.41 EUR for 2010 and 1.55 for 2011.

05/04/10 HSBC, still "overweight", still 34.00 EUR.
05/03/10 Deutsche Bank, still "buy", 36.00 EUR -> 39.00 EUR.
05/03/10 AC Research, "accumulate" -> "buy".
05/03/10 Independent Research, still "buy", 34.00 EUR -> 37.00 EUR.
05/03/10 UniCredit, "buy" -> "hold", eps10 1.21 EUR -> 1.57 EUR, eps11 1.71 EUR -> 1.78 EUR, 30.00 EUR -> 25.00 EUR.
04/30/10 UBS, still "buy", 31.00 EUR -> 32.00 EUR.
04/30/10 Canaccord Adams, "buy" -> "hold", 40.00 USD -> 26.00 USD.
04/29/10 Close Brothers Seydler, still "buy", still 35.00 EUR.
04/29/10 Hamburger Sparkasse, still "buy".
04/22/10 HSBC, still "overweight", 31.00 EUR -> 34.00 EUR.
04/22/10 Close Brothers Seydler, still "buy", eps10 1.20 EUR, eps11 1.87 EUR.
04/22/10 AC Research, still "accumulate".
04/21/10 Goldman Sachs, still "neutral", eps10 0.95 EUR -> 1.37 EUR, eps11 1.25 EUR -> 1.55 EUR.
04/12/10 J.P. Morgan Cazenove, still "overweight", still 30.00 EUR.
04/07/10 Independent Research, still "buy", 31.00 EUR -> 34.00 EUR.
04/01/10 Deutsche Bank, still "buy", still 36.00 EUR.
04/01/10 UBS, "buy", 31.00 EUR.
03/17/10 Piper Jaffray, still "underweight", 18.00 EUR -> 21.00 EUR.
03/17/10 UniCredit, still "buy", eps10 0.78 EUR -> 1.21 EUR, eps11 0.99 EUR -> 1.71 EUR, 25.00 EUR -> 30.00 EUR.
03/17/10 Credit Suisse, still "neutral", eps10 1.14 EUR -> 1.47 EUR, eps11 0.98 EUR -> 1.12 EUR.
03/15/10 WestLB, "add" -> "buy", 25.50 EUR -> 33.40 EUR.
03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10 0.66 EUR -> 1.11 EUR, eps11 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10 0.35 EUR -> 0.43 EUR, eps11 0.58 EUR -> 0.63 EUR, eps12 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10 0.40 EUR -> 0.75 EUR, eps11 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR,
02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09 0.37 EUR -> 0.46 EUR, eps10 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", eps10 0.48 EUR -> 0.66 EUR, eps11 0.55 EUR -> 0.80 EUR, 26.00 EUR -> 28.50 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.10/30/09 WGZ Bank, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 UniCredit, "hold" -> "buy", eps10 0.53 EUR -> 0.72 EUR, eps11 0.70 EUR -> 0.90 EUR, 16.00 EUR -> 23.00 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10 355 MEUR -> 420 MEUR, eps10 0.48 EUR -> 0.60 EUR, rev11 450 MEUR, eps11 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 UniCredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

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#13) On May 06, 2010 at 6:20 AM, portefeuille (99.61) wrote:

03/03/10 WestLB, still "add", eps10 0.35 EUR -> 0.43 EUR, eps11 0.58 EUR -> 0.63 EUR, eps12 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.

03/03/10 WestLB, still "add", eps10 0.35 EUR -> 0.43 EUR, eps11 0.58 EUR -> 0.63 EUR, eps12 0.78 EUR -> 0.85 EUR, 24.00 EUR -> 25.50 EUR.

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#14) On May 06, 2010 at 6:25 AM, portefeuille (99.61) wrote:

cash flow consensus estimates are currently at around 1.45 EUR for 2010, and 1.90 EUR for 2011.

"net cash" (year end?) consensus estimates are currently at around 309.89 million EUR for 2010, and 423 million EUR for 2011.

market capitalisation is currently at around 2.45 billion EUR.

Aixtron shares are currently at around 24.295 EUR.

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#15) On May 06, 2010 at 6:25 AM, portefeuille (99.61) wrote:

cash flow

cash flow per share

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#16) On May 06, 2010 at 6:27 AM, portefeuille (99.61) wrote:

----------------

Veeco: J.P. Morgan Pounds The Table, And The Stock Responds

...

Veeco Instruments (VECO) shares are trading sharply higher after a bullish note this morning from J.P. Morgan analyst Christopher Blansett, who repeated his Overweight rating and $75 target price on the LED manufacturing equipment company’s stock, which closed Friday at $43.99.

...

He says weakness in the shares is likely to be short-lived “as we expect news flow over the next few months to be positive for LED demand and drive upside revisions [to] unit demand for LED backlighting and general lighting applications.
He points out that the market for MOCVD equipment - metal-organic chemical vapor deposition - which is used to create LEDs is a duopoly shares by Veeco and Aixtron (AIXG). “Instead of being concerned about share between Veeco and Aixtron, we think investors should view the market as a duopoly, where neither play is willing to lower price in order to gain share,” he writes. “We think this is a more favorable scenario than exists in most other tech hardware sectors, where a large number of competitors are continually undercutting each other in order to gain share.”

...

----------------

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#17) On May 06, 2010 at 6:31 AM, portefeuille (99.61) wrote:

Aixtron in Frankfurt trading.



enlarge

 



enlarge

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#18) On May 06, 2010 at 6:39 AM, portefeuille (99.61) wrote:

Aixtron shares are currently one of my largest position (and one of the largest positions in my "fund" (see here)).

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#19) On May 25, 2010 at 11:41 AM, portefeuille (99.61) wrote:

----------------

Europe chip makers slashed at J.P. Morgan

LONDON (MarketWatch) -- European chip stocks were downgraded by J.P. Morgan Cazenove, which argued that it's too risky to stay invested for the last potential leg of re-stocking. Euro weakness wil reduce demand for dollar-produced electronics, Chinese demand could slow in the second half on cooling measures, the strong build of TVs ahead of the World Cup could result in an inventory overhang and solar-related demand may soften on German subsidy cuts due July 1. Aixtron and Infineon Technologies were cut to neutral from overweight, and ARM Holdings was cut to underweight from neutral.

----------------


----------------

ANALYSE: JPMorgan senkt Infineon und Aixtron in Branchenstudie auf 'Neutral'

LONDON (dpa-AFX) - JPMorgan hat die Aktien von Infineon und Aixtron von 'Overweight' auf 'Neutral' abgestuft. Es sei zu riskant, für einen möglichen letzten Schritt vorwärts noch investiert zu bleiben, schrieb Analyst Sandeep Deshpande in einer Branchenstudie zu den europäischen Halbleiterunternehmen vom Dienstag. Er senkte darin sein Kursziel für den Chiphersteller von 6,50 auf 5,50 (Kurs:
4,248) Euro, das Ziel für den auf Leuchtdioden-Anlagen spezialisierten Maschinenbauer stampfte er von 30,00 auf 20,00 (Kurs: 20,00) Euro ein.
Deshpande geht davon aus, dass sich die Auftragsdynamik im zweiten Halbjahr verlangsamen wird. Zum Ende der Rezession habe die Erholung der Endnachfrage und die Aufstockung der Lagerbestände in der Zulieferkette die Auftragslage im Halbleiterbereich belebt. Nun seien die Lager aber wieder gefüllt. Zudem könnten der schwache Euro, abnehmende Nachfrage aus China, die vor der Fußball-WM hochgefahrene Fernseher-Produktion und bereits vorgezogene Aufträge aus der Solarbranche die Dynamik abschwächen. Noch lieferten die Lagerbestände allerdings keinen Anlass zur Besorgnis.
Mit der Abstufung von Aixtron greift Deshpande dieser möglichen Abschwächung der Auftragslage vor. Das zweite Quartal dürfte zwar noch robust ausfallen, das hohe Niveau auch im zweiten Halbjahr zu halten werde jedoch wie erläutert schwierig. Bei Infineon geht der Experte davon aus, dass die Marge im September-Quartal ihren Höhepunkt erreichen wird.
Gemäß der Einstufung 'Neutral' geht JPMorgan davon aus, dass sich die Aktie in den kommenden sechs bis zwölf Monaten im Gleichklang mit dem vom Analystenteam beobachteten Sektor entwickeln wird.

----------------

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#20) On August 26, 2010 at 10:40 PM, portefeuille (99.61) wrote:

update.

The average eps estimate is currently at around 1.76 EUR for 2010 and 1.92 EUR for 2011.

08/02/10 Independent Research, still "buy", 37.00 EUR -> 33.00 EUR.
08/02/10 Close Brothers Seydler, still "buy", eps10 1.77 EUR, still 35.00 EUR.
08/02/10 UniCredit, still "buy", eps10 1.57 EUR -> 1.75 EUR, eps11 1.71 still 2.08 EUR, 25.00 EUR -> 27.50 EUR.
07/30/10 UBS, still "buy", eps10 1.54 EUR -> 1.78 EUR, eps11 1.92 EUR -> 2.08 EUR, 32.00 EUR -> 31.00 EUR.
07/30/10 AC Research, still "buy", P/E2010e around 14.
07/28/10 Banc of America - Merrill Lynch Research, "buy", 32.00 EUR.
07/26/10 LB Baden-Württemberg, "buy", 26.00 -> 32.00 EUR.
07/13/10 Credit Suisse, still "neutral", still 26.00 EUR.
07/12/10 Goldman Sachs, still "neutral", 31.00 EUR -> 29.00 EUR.
07/08/10 Sterne Agee, "buy", 34.00 EUR.
06/30/10 Merriman Curhan Ford, still "neutral", eps10 1.50 EUR -> 1.63 EUR.
05/27/10 Commerzbank, "reduce" -> "hold", 23.00 EUR -> 21.00 EUR.
05/26/10 equinet, "accumulate" -> "buy", still 28.50 EUR.
05/25/10  J.P. Morgan Cazenove, "overweight" -> "neutral", 30.00 EUR -> 20.00 EUR.
05/04/10 HSBC, still "overweight", still 34.00 EUR.
05/03/10 Deutsche Bank, still "buy", 36.00 EUR -> 39.00 EUR.
05/03/10 AC Research, "accumulate" -> "buy".
05/03/10 Independent Research, still "buy", 34.00 EUR -> 37.00 EUR.
05/03/10 UniCredit, "buy" -> "hold", eps10 1.21 EUR -> 1.57 EUR, eps11 1.71 EUR -> 1.78 EUR, 30.00 EUR -> 25.00 EUR.
04/30/10 UBS, still "buy", 31.00 EUR -> 32.00 EUR.
04/30/10 Canaccord Adams, "buy" -> "hold", 40.00 USD -> 26.00 USD.
04/29/10 Close Brothers Seydler, still "buy", still 35.00 EUR.
04/29/10 Hamburger Sparkasse, still "buy".
04/22/10 HSBC, still "overweight", 31.00 EUR -> 34.00 EUR.
04/22/10 Close Brothers Seydler, still "buy", eps10 1.20 EUR, eps11 1.87 EUR.
04/22/10 AC Research, still "accumulate".
04/21/10 Goldman Sachs, still "neutral", eps10 0.95 EUR -> 1.37 EUR, eps11 1.25 EUR -> 1.55 EUR.
04/12/10 J.P. Morgan Cazenove, still "overweight", still 30.00 EUR.
04/07/10 Independent Research, still "buy", 31.00 EUR -> 34.00 EUR.
04/01/10 Deutsche Bank, still "buy", still 36.00 EUR.
04/01/10 UBS, "buy", 31.00 EUR.
03/17/10 Piper Jaffray, still "underweight", 18.00 EUR -> 21.00 EUR.
03/17/10 UniCredit, still "buy", eps10 0.78 EUR -> 1.21 EUR, eps11 0.99 EUR -> 1.71 EUR, 25.00 EUR -> 30.00 EUR.
03/17/10 Credit Suisse, still "neutral", eps10 1.14 EUR -> 1.47 EUR, eps11 0.98 EUR -> 1.12 EUR.
03/15/10 WestLB, "add" -> "buy", 25.50 EUR -> 33.40 EUR.
03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10 0.66 EUR -> 1.11 EUR, eps11 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10 0.35 EUR -> 0.43 EUR, eps11 0.58 EUR -> 0.63 EUR, eps12 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10 0.40 EUR -> 0.75 EUR, eps11 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR,
02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09 0.37 EUR -> 0.46 EUR, eps10 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", eps10 0.48 EUR -> 0.66 EUR, eps11 0.55 EUR -> 0.80 EUR, 26.00 EUR -> 28.50 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.10/30/09 WGZ Bank, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 UniCredit, "hold" -> "buy", eps10 0.53 EUR -> 0.72 EUR, eps11 0.70 EUR -> 0.90 EUR, 16.00 EUR -> 23.00 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10 355 MEUR -> 420 MEUR, eps10 0.48 EUR -> 0.60 EUR, rev11 450 MEUR, eps11 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 UniCredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

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#21) On January 21, 2011 at 11:14 PM, portefeuille (99.61) wrote:

update.

The average eps estimate is currently at around 1.96 EUR for 2010 and 2.10 EUR for 2011.

01/19/11 Commerzbank, still "buy", still 37.00 EUR.
01/18/11 Goldman Sachs, still "neutral", 29.00 EUR -> 42.00 EUR.
01/14/11 Banc of America Merrill Lynch, still "buy", 32.00 EUR -> 36.00 EUR.
01/13/11 Société Générale, "buy", eps10 1.75 EUR, eps11 2.06 EUR, 37.00 EUR.
08/02/10 Independent Research, still "buy", 37.00 EUR -> 33.00 EUR.
08/02/10 Close Brothers Seydler, still "buy", eps10 1.77 EUR, still 35.00 EUR.
08/02/10 UniCredit, still "buy", eps10 1.57 EUR -> 1.75 EUR, eps11 still 2.08 EUR, 25.00 EUR -> 27.50 EUR.
07/30/10 UBS, still "buy", eps10 1.54 EUR -> 1.78 EUR, eps11 1.92 EUR -> 2.08 EUR, 32.00 EUR -> 31.00 EUR.
07/30/10 AC Research, still "buy", P/E2010e around 14.
07/28/10 Banc of America Merrill Lynch, "buy", 32.00 EUR.
07/26/10 LB Baden-Württemberg, "buy", 26.00 -> 32.00 EUR.
07/13/10 Credit Suisse, still "neutral", still 26.00 EUR.
07/12/10 Goldman Sachs, still "neutral", 31.00 EUR -> 29.00 EUR.
07/08/10 Sterne Agee, "buy", 34.00 EUR.
06/30/10 Merriman Curhan Ford, still "neutral", eps10 1.50 EUR -> 1.63 EUR.
05/27/10 Commerzbank, "reduce" -> "hold", 23.00 EUR -> 21.00 EUR.
05/26/10 equinet, "accumulate" -> "buy", still 28.50 EUR.
05/25/10 J.P. Morgan Cazenove, "overweight" -> "neutral", 30.00 EUR -> 20.00 EUR.
05/04/10 HSBC, still "overweight", still 34.00 EUR.
05/03/10 Deutsche Bank, still "buy", 36.00 EUR -> 39.00 EUR.
05/03/10 AC Research, "accumulate" -> "buy".
05/03/10 Independent Research, still "buy", 34.00 EUR -> 37.00 EUR.
05/03/10 UniCredit, "buy" -> "hold", eps10 1.21 EUR -> 1.57 EUR, eps11 1.71 EUR -> 1.78 EUR, 30.00 EUR -> 25.00 EUR.
04/30/10 UBS, still "buy", 31.00 EUR -> 32.00 EUR.
04/30/10 Canaccord Adams, "buy" -> "hold", 40.00 USD -> 26.00 USD.
04/29/10 Close Brothers Seydler, still "buy", still 35.00 EUR.
04/29/10 Hamburger Sparkasse, still "buy".
04/22/10 HSBC, still "overweight", 31.00 EUR -> 34.00 EUR.
04/22/10 Close Brothers Seydler, still "buy", eps10 1.20 EUR, eps11 1.87 EUR.
04/22/10 AC Research, still "accumulate".
04/21/10 Goldman Sachs, still "neutral", eps10 0.95 EUR -> 1.37 EUR, eps11 1.25 EUR -> 1.55 EUR.
04/12/10 J.P. Morgan Cazenove, still "overweight", still 30.00 EUR.
04/07/10 Independent Research, still "buy", 31.00 EUR -> 34.00 EUR.
04/01/10 Deutsche Bank, still "buy", still 36.00 EUR.
04/01/10 UBS, "buy", 31.00 EUR.
03/17/10 Piper Jaffray, still "underweight", 18.00 EUR -> 21.00 EUR.
03/17/10 UniCredit, still "buy", eps10 0.78 EUR -> 1.21 EUR, eps11 0.99 EUR -> 1.71 EUR, 25.00 EUR -> 30.00 EUR.
03/17/10 Credit Suisse, still "neutral", eps10 1.14 EUR -> 1.47 EUR, eps11 0.98 EUR -> 1.12 EUR.
03/15/10 WestLB, "add" -> "buy", 25.50 EUR -> 33.40 EUR.
03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10 0.66 EUR -> 1.11 EUR, eps11 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10 0.35 EUR -> 0.43 EUR, eps11 0.58 EUR -> 0.63 EUR, eps12 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10 0.40 EUR -> 0.75 EUR, eps11 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR,
02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09 0.37 EUR -> 0.46 EUR, eps10 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", eps10 0.48 EUR -> 0.66 EUR, eps11 0.55 EUR -> 0.80 EUR, 26.00 EUR -> 28.50 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.10/30/09 WGZ Bank, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 UniCredit, "hold" -> "buy", eps10 0.53 EUR -> 0.72 EUR, eps11 0.70 EUR -> 0.90 EUR, 16.00 EUR -> 23.00 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10 355 MEUR -> 420 MEUR, eps10 0.48 EUR -> 0.60 EUR, rev11 450 MEUR, eps11 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 UniCredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

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#22) On January 22, 2011 at 12:09 AM, portefeuille (99.61) wrote:

The average eps estimate is currently at around 1.96 EUR for 2010 and 2.10 EUR for 2011.

01/19/11 Commerzbank, still "buy", still 37.00 EUR.
01/18/11 Goldman Sachs, still "neutral", 29.00 EUR -> 42.00 EUR.
01/14/11 Bank of America Merrill Lynch, still "buy", 32.00 EUR -> 36.00 EUR.
01/13/11 Société Générale, "buy", eps10 1.75 EUR, eps11 2.06 EUR, 37.00 EUR.
12/02/10 Deutsche Bank, still "buy", still 39.00 EUR.
11/02/10 HSBC, still "overweight", still 34.00 EUR.
11/01/10 Close Brothers Seydler, still "buy", eps10 1.77 EUR -> 1.87 EUR, eps11 2.09 EUR -> 2.11 EUR, eps12 2.41 EUR -> 2.42 EUR, still 35.00 EUR.
10/29/10 J.P. Morgan Cazenove, still "neutral", still 20.00 EUR.
10/29/10 UBS, eps10 1.74 EUR, eps11 1.92 EUR, eps12 1.93 EUR, 29.00 EUR -> 28.00 EUR.
08/02/10 Independent Research, still "buy", 37.00 EUR -> 33.00 EUR.
08/02/10 Close Brothers Seydler, still "buy", eps10 1.77 EUR, still 35.00 EUR.
08/02/10 UniCredit, still "buy", eps10 1.57 EUR -> 1.75 EUR, eps11 still 2.08 EUR, 25.00 EUR -> 27.50 EUR.
07/30/10 UBS, still "buy", eps10 1.54 EUR -> 1.78 EUR, eps11 1.92 EUR -> 2.08 EUR, 32.00 EUR -> 31.00 EUR.
07/28/10 Bank of America Merrill Lynch, "buy", 32.00 EUR.
07/26/10 LB Baden-Württemberg, "buy", 26.00 -> 32.00 EUR.
07/13/10 Credit Suisse, still "neutral", still 26.00 EUR.
07/12/10 Goldman Sachs, still "neutral", 31.00 EUR -> 29.00 EUR.
07/08/10 Sterne Agee, "buy", 34.00 EUR.
06/30/10 Merriman Curhan Ford, still "neutral", eps10 1.50 EUR -> 1.63 EUR.
05/27/10 Commerzbank, "reduce" -> "hold", 23.00 EUR -> 21.00 EUR.
05/26/10 equinet, "accumulate" -> "buy", still 28.50 EUR.
05/25/10 J.P. Morgan Cazenove, "overweight" -> "neutral", 30.00 EUR -> 20.00 EUR.
05/04/10 HSBC, still "overweight", still 34.00 EUR.
05/03/10 Deutsche Bank, still "buy", 36.00 EUR -> 39.00 EUR.
05/03/10 AC Research, "accumulate" -> "buy".
05/03/10 Independent Research, still "buy", 34.00 EUR -> 37.00 EUR.
05/03/10 UniCredit, "buy" -> "hold", eps10 1.21 EUR -> 1.57 EUR, eps11 1.71 EUR -> 1.78 EUR, 30.00 EUR -> 25.00 EUR.
04/30/10 UBS, still "buy", 31.00 EUR -> 32.00 EUR.
04/30/10 Canaccord Adams, "buy" -> "hold", 40.00 USD -> 26.00 USD.
04/29/10 Close Brothers Seydler, still "buy", still 35.00 EUR.
04/29/10 Hamburger Sparkasse, still "buy".
04/22/10 HSBC, still "overweight", 31.00 EUR -> 34.00 EUR.
04/22/10 Close Brothers Seydler, still "buy", eps10 1.20 EUR, eps11 1.87 EUR.
04/22/10 AC Research, still "accumulate".
04/21/10 Goldman Sachs, still "neutral", eps10 0.95 EUR -> 1.37 EUR, eps11 1.25 EUR -> 1.55 EUR.
04/12/10 J.P. Morgan Cazenove, still "overweight", still 30.00 EUR.
04/07/10 Independent Research, still "buy", 31.00 EUR -> 34.00 EUR.
04/01/10 Deutsche Bank, still "buy", still 36.00 EUR.
04/01/10 UBS, "buy", 31.00 EUR.
03/17/10 Piper Jaffray, still "underweight", 18.00 EUR -> 21.00 EUR.
03/17/10 UniCredit, still "buy", eps10 0.78 EUR -> 1.21 EUR, eps11 0.99 EUR -> 1.71 EUR, 25.00 EUR -> 30.00 EUR.
03/17/10 Credit Suisse, still "neutral", eps10 1.14 EUR -> 1.47 EUR, eps11 0.98 EUR -> 1.12 EUR.
03/15/10 WestLB, "add" -> "buy", 25.50 EUR -> 33.40 EUR.
03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10 0.66 EUR -> 1.11 EUR, eps11 0.80 EUR -> 1.31 EUR, 28.50 EUR -> 31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10 0.35 EUR -> 0.43 EUR, eps11 0.58 EUR -> 0.63 EUR, eps12 0.78 EUR -> 0.85 EUR, 28.50 EUR -> 31.00 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10 0.40 EUR -> 0.75 EUR, eps11 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR,
02/08/10 HSBC, "overweight", 28.00 EUR.
02/05/10 Lazard Capital, "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09 0.37 EUR -> 0.46 EUR, eps10 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", eps10 0.48 EUR -> 0.66 EUR, eps11 0.55 EUR -> 0.80 EUR, 26.00 EUR -> 28.50 EUR.
02/04/10 Hamburger Sparkasse, still "buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 EUR -> 24.00 EUR.
10/30/09 WGZ Bank, still "buy", eps09 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00.
10/30/09 Independent Research, still "buy", eps09 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09 0.22 EUR -> 0.38 EUR, eps10 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 UniCredit, "hold" -> "buy", eps10 0.53 EUR -> 0.72 EUR, eps11 0.70 EUR -> 0.90 EUR, 16.00 EUR -> 23.00 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", eps10 0.48 EUR -> 0.60 EUR, eps11 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 UniCredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

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