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Citi cuts Deutsche Boerse stock target by EUR 4

EditorAhmed Abdulazez Abdulkadir
Published 2024/04/24, 15:14

On Wednesday, Citi issued an update on Deutsche Boerse (ETR:DB1Gn) AG (DB1:GR) (OTC: DBOEY), adjusting the company's price target to €184.00, a decrease from the previous €188.00, while retaining a Neutral rating on the stock. The financial institution's analyst anticipates the company to release its first-quarter earnings after the market closes on Tuesday, with a follow-up conference call scheduled for Wednesday at 14:00 CET / 13:00 BST.

The analyst's projections for Deutsche Boerse's first-quarter 2024 revenue are 2% higher than the consensus, driven by robust growth in fund services, securities services, and investment management. This contrasts with mixed trends observed in trading and clearing sectors. Consequently, the estimated EBITDA (earnings before interest, taxes, depreciation, and amortization) surpasses the consensus by 1%, despite anticipating higher costs.

For the full fiscal year 2024, Citi's revenue forecast for Deutsche Boerse stands at €5.65 billion, slightly exceeding the company's own guidance of more than €5.6 billion. The EBITDA projection aligns closely with the company's guidance of €3.2 billion. However, it falls 3% short of the consensus due to expectations of weaker trading and clearing revenues coupled with increased expenses.

Deutsche Boerse AG is set to provide detailed financial results and potentially offer insights into the company's performance and strategic direction during the upcoming earnings call. The financial community will be looking closely at these results to gauge the company's trajectory and assess the impact of market conditions on its various business segments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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