Analyst Recommendations

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Analyst Recommendations

The following recommendations of the mentioned analysts are based on the respective latest study of the noted investment banks.

Analyst Recommendations

Company Coverage analyst Date of research Rating Target price (in €)
Berenberg Jonathan Helliwell 07.02.2012 Hold 37.00
Goldman Sachs Vighnesh Padiachy 03.02.2012 Neutral 36.70
Barclays Capital Nick Dempsey 28.01.2012 Underweight 32.50
Commerzbank Sonia Rabussier 20.01.2012 Buy 42.50
Bankhaus Lampe Frank Neumann 20.12.2011 Buy 48.00
Société Générale Laurent Picard 15.12.2011 Hold 30.00
Warburg Jochen Reichert 13.12.2011 Buy 36.50
DZ Bank Harald Heider 13.12.2011 Buy 48.00
LBBW Stefan Borscheid 17.11.2011 Buy 40.00
HSBC Christopher Johnen 08.11.2011 Overweight 40.00
J.P. Morgan Marcus Diebel 07.11.2011 Underweight 27.00
Deutsche Bank Mark Braley 07.11.2011 Hold 42.00
Close Brothers Seydler Marcus Silbe 28.10.2011 Buy 35.00
BHF Bank Maxim Tilev 20.09.2011 Overweight 38.00
Metzler Tobias Haberland 02.09.2011 Buy 38.00
Hammer Partners Stephan Seip 04.08.2011 Buy 40.00


The sole responsibility for the content and the conclusions of the mentioned analyst studies or recommendations respectively rests with the named investment banks. The opinions and forecasts represented by the named analysts as well as the recommendations made by them concerning the shares of Axel Springer AG solely reflect their own opinions and not the ones of Axel Springer AG or its Executive Board.

The listing of analyst recommendations on the websites of Axel Springer AG merely serves as non-binding information. Neither can an acknowledgement or approval of the contents and recommendations of the underlying analyst studies be deduced from the listing of the analyst recommendations by Axel Springer AG nor is the listing to be interpreted as an invitation to buy, hold or sell shares of Axel Springer AG.

Axel Springer AG does not assume any liability for the correctness, completeness or timeliness of the mentioned analyst recommendations. Furthermore, a liability of Axel Springer AG for damages resulting from the adherence or non-adherence to the mentioned analyst recommendations is explicitly excluded. Axel Springer AG explicitly reserves the right to alter or end temporarily or permanently the provision of information concerning the assessments and recommendations of analysts without prior notice.