BVB-share: Silvia Quandt Research GmbH recommends anew 'buy'
DGAP-News: Borussia Dortmund GmbH & Co. KGaA / Key word(s): Research Update BVB-share: Silvia Quandt Research GmbH recommends anew 'buy'
16.11.2012 / 11:27
The Silvia Quandt Research GmbH, Frankfurt a.M. ('Silvia Quandt'), has published a research update dated November 15th, 2012, with an anew 'buy' recommendation (previous: 'buy') and an unchanged target price of 2.95 EUR.
The figures of the first quarter Q1 2012/2013, which were disclosed on November 14th, 2012, lay in the expected range. Group revenues increased by one fifth, mainly driven by TV marketing and advertising. The result was lower than in the previous comparable report period mainly influenced by higher personal and other operating expenses. Silvia Quandt did not change its model assumptions for the fiscal year 2012/2013 and therefore reiterates its 'buy' recommendation with an unchanged target price.
Moreover, Borussia Dortmund held a convincing company presentation at the Eigenkapitalforum on November 14th, 2012 in Frankfurt a.M.
For further information please see the column 'capital markets view' under www.bvb.de/aktie.
Dortmund, November 16th, 2012
Borussia Dortmund GmbH & Co. KGaA
Borussia Dortmund Geschäftsführungs-GmbH
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