Silvia Quandt Research GmbH recommends 'buy'
DGAP-News: Borussia Dortmund GmbH & Co. KGaA / Key word(s): Research Update BVB-share: Silvia Quandt Research GmbH recommends 'buy'
12.09.2012 / 15:38
The Silvia Quandt Research GmbH, Frankfurt a.M. ('Silvia Quandt'), has published a research update dated September 12th, 2012, with - for the first time - a 'buy' recommendation (previous: 'neutral') and a target price of 2.95 EUR.
The basic assumption of Silvia Quandt is that Borussia Dortmund will proceed to UEFA Europa League in its challenging UEFA Champions League ('UCL') group 2012/13. For the current Bundesliga season it is expected that Borussia Dortmund will secure a rank between 1 and 3, which enables participation in 2013/14 UCL group stage. Even if the dividend proposal of 0.06 EUR per share was found slightly disappointing, it is further expected that group sales will increase in the season and fiscal year 2012/2013 by 5.9% to 228.0m EUR, driven by growth in all segments.
For further information please see the column 'capital markets view' under www.bvb.de/aktie.
Dortmund, September 12th, 2012
Borussia Dortmund GmbH & Co. KGaA
Borussia Dortmund Geschäftsführungs-GmbH
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