Berenberg Equity Research

Elekta AB, Med. Tech/Services, PT SEK 96.00


Q1 mixed but key metrics moving in right direction

Novozymes A/S, Chemicals, PT DKK 300.00 (285.00)


Roadshow feedback: refreshing growth

Software & IT Services, Software & IT Services


The true champions of automation

Virgin Money Holdings UK, Banking, PT GBp 300 (no change)


The price is right

SLM Solutions Group AG, Technology Hardware, PT EUR 31.00 (33.00)


Weak orders threaten outlook

Antofagasta plc, Metals & Mining, PT GBp 690 (650)


Steady performance but still pricey

Cross Sector, Cross Sector


Loyalty programmes: companies cashing in

Umicore SA, Chemicals, PT EUR 68.00 (no change)


Time for a recharge; down to Hold

Dalata Hotel Group plc, Leisure, PT GBp 525 (450)


Portfolio evolution continues

Coloplast A/S, Med. Tech/Services, PT DKK 465.00 (490.00)


Limited wiggle room

STRABAG SE, Construction, PT EUR 44.00


Ahead of the curve

zooplus AG, Internet, PT EUR 192.00 (no change)


Weak Q2; no guidance upgrades in 2017E

News: Berenberg

Forecaster of the Year
BERENBERG | 05.08.2017
Forecaster of the Year
Berenberg brand ambassador Langer wins third major in 2017
BERENBERG | 31.07.2017
Berenberg brand ambassador Langer wins third major in 2017
Equity Capital Markets - Berenberg successful in ECM transactions
BERENBERG | 26.07.2017
Equity Capital Markets - Berenberg successful in ECM transactions
Berenberg and Henning Gebhardt are launching an equities fund
BERENBERG | 22.06.2017
Berenberg and Henning Gebhardt are launching an equities fund
Berenberg/HWWI study: The market for digital payment systems is growing – Germany is in last place when it comes to mobile payment usage
BERENBERG | 13.06.2017
Berenberg/HWWI study: The market for digital payment systems is growing – Germany is in last place when it comes to mobile payment usage
Berenberg hires star fund manager Matthias Born
BERENBERG | 27.04.2017
Berenberg hires star fund manager Matthias Born
Tom Watson becomes Berenberg brand ambassador
BERENBERG | 12.04.2017
Tom Watson becomes Berenberg brand ambassador
Berenberg’s net profit for the year increases by 56% to €161 million
BERENBERG | 07.02.2017
Berenberg’s net profit for the year increases by 56% to €161 million
Berenberg is
BERENBERG | 02.11.2016
Berenberg is "Best Private Bank in Germany"

News: Economics

Global Outlook: More growth despite political risks
ECONOMICS | 26.07.2017
Global Outlook: More growth despite political risks
Economics - Global update: robust growth, no exuberance yet
ECONOMICS | 10.07.2017
Economics - Global update: robust growth, no exuberance yet
Economics - US housing market: plenty of room for improvement
ECONOMICS | 26.06.2017
Economics - US housing market: plenty of room for improvement
Economics - Analysing Brexit: the options and outlook
ECONOMICS | 20.06.2017
Economics - Analysing Brexit: the options and outlook
Economics - Reforming Europe: which ideas make sense?
ECONOMICS | 19.06.2017
Economics - Reforming Europe: which ideas make sense?
VIVE LA FRANCE, VIVE L'EUROPE: PRESIDENT MACRON
ECONOMICS | 08.05.2017
VIVE LA FRANCE, VIVE L'EUROPE: PRESIDENT MACRON
MAY FOMC ON HOLD
ECONOMICS | 05.05.2017
MAY FOMC ON HOLD
FORECASTS AT A GLANCE
ECONOMICS | 05.05.2017
FORECASTS AT A GLANCE
US MARCH CONSUMER SPENDING AND PRICES: SOFT
ECONOMICS | 05.05.2017
US MARCH CONSUMER SPENDING AND PRICES: SOFT
Global Outlook: More growth despite political risks
ECONOMICS | 04.05.2017
Global Outlook: More growth despite political risks
How Brexit could affect the UK general election
ECONOMICS | 04.05.2017
How Brexit could affect the UK general election
US NON-MANUFACTURING SENTIMENT REBOUNDS, MANUFACTURING MODERATES
ECONOMICS | 03.05.2017
US NON-MANUFACTURING SENTIMENT REBOUNDS, MANUFACTURING MODERATES
FED MINUTES: JUSTIFY RATE INCREASE, CHANGE TO ITS REINVESTMENT POLICY SOON
ECONOMICS | 05.04.2017
FED MINUTES: JUSTIFY RATE INCREASE, CHANGE TO ITS REINVESTMENT POLICY SOON
US PCE DEFLATOR EXCEEDS FED’S TARGET, BUT PRIVATE CONSUMPTION SOFT
ECONOMICS | 31.03.2017
US PCE DEFLATOR EXCEEDS FED’S TARGET, BUT PRIVATE CONSUMPTION SOFT
US: FOMC LEAVES POLICY UNCHANGED BUT APPEARS MORE CONFIDENT IN OUTLOOK
ECONOMICS | 02.02.2017
US: FOMC LEAVES POLICY UNCHANGED BUT APPEARS MORE CONFIDENT IN OUTLOOK

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Our Departments

Over 1,500 employees assist our clients with first-class services and profound know-how in four business divisions.

WEALTH MANAGEMENT

WEALTH MANAGEMENT

What is excellent wealth management? To us it means providing comprehensive support to you as a high-net-worth individual and your relatives – in all areas which directly or indirectly impact your financial situation.

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Asset Management

Asset Management

Berenberg Asset Management offers private and institutional investors innovative concepts and professional risk management strategies. Our experts develop solutions that are specifically configured for your needs and address your return, risk and liquidity goals, focussing preferentially on selected areas where we have especially deep knowledge.

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Investment Banking

Berenberg’s investment banking activities cover a broad range of services.

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Corporate Banking

Berenberg embodies high-quality and independent advice, mutual trust as well as fast and reliable decision-making.

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Financial Partners

Founded in 1590 – Berenberg is the second-oldest bank in the world

Private bank Berenberg traces its roots back to the year 1590. It is thus not only one of the oldest banks in the world, it has also seen a highly dynamic development in the past few years.

Cornelius Berenberg – A mischievous character with vision

Cornelius Berenberg started to work in his father’s trading company at the tender age of 16, and soon proved to be a visionary businessman. Thanks to his ideas and energy, within a few years the Berenberg company had become one of the highest-earning in the City of Hamburg. In an interesting note, he was the first in our ancestral line to be immortalized in oil.

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Keeping the Berenberg name

After 175 years the fifth generation of the Berenberg was the first to lack a male heir. Only the daughter Elisabeth can ensure that the business stays in the family, by marrying the accomplished businessman Johann Hinrich Gossler. Fortunately, he is someone who appreciates tradition.

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A man for trying times

Another Berenberg who stood by Hamburg: Cornelius Berenberg, son of John B., helped soldiers at the front with “charitable gifts.” He played a major part in getting Hamburg back onto a growth course after the war. Cornelius also had political courage, supporting Jewish businessmen and helping some to flee.

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The Berenbergs help Hamburg get ahead

In 1882 Hamburg started to surge ahead in what would be an exceptional boom period, as the city joined the German customs union and got a duty-free port. This became the engine of the city’s economic development, thanks to John Berenberg-Gossler, who now wasn’t just a “von” but was also ennobled as a baron.

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    Golf

    Berenberg’s brand ambassadors can look back on a successful performance. Taken together, the team of seven has so far won 22 majors and 29 senior majors. The most recent successes in 2017: Bernhard Langer won his tenth major at the British Senior Open and Branden Grace, at the Open Championships, shot the lowest round ever played at a major.
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    Investor Warning

    We have been made aware that certain members of the public have been approached by fraudsters and scammers purporting to work for Berenberg, to try to convince people to make bogus Investments (Clone firm). Under false pretences, these criminals obtain personal data for opening an account and request that investors transfer money in advance to secure their purchase. Please note that Berenberg does not deal with people solely via email, telephone or social media. Thus, please note that Berenberg can only be reached through the contact data that are stored on this homepage. In the light of recent developments we would like to point out that there is no relation between Berenberg and “berenberg-loyal“. If in doubt, please contact ComplianceAML@berenberg.de.

    US Residents

    Our services are not available to US persons that Berenberg cannot serve through its US broker-dealer affiliate Berenberg Capital Markets LLC, Boston, MA under the Rule 15a-6 of the US Securities Exchange Act of 1934.

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    Amelie Eichblatt
    Tel. +49 40 350 60-8182

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    Telephone +49 40 350 60-0

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    Telephone +49 69 91 30 90-0

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    Telephone +41 22 308 59-00

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    London EC2R 8HP
    Telephone +44 20 3207-7800

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    Telephone +33 1 58 44 95-00

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    Telephone +1 415-802-2520

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    Telephone +41 44 284-2020