FlatexDEGIRO : Attractive risk/return profile, undervaluation compared to peers and positive catalysts in the short term. Outperform vs Neutral
>Attractive risk return profile warrants upgrade to Outperform - We see FlatexDEGIRO’s current risk/return profile as very attractive, thanks to several factors that could provide tailwinds in the short to medium term: 1/ We think the BaFin issues will be resolved by year-end at the latest. The stock is trading roughly -17.4% below the level prior to the first announcement of the BaFin issue. Resolving the issue should substantially improve sentiment on the stock and...Flatex AG, formerly known as Fintech Group AG, is a Germany-based company engaged in the financial technology sector. The Company divides its business into two operational segments: Securities Trading and Financial Services (ST & FS) and Transaction Processing and White-Label Banking Services (TP & WLBS). The ST & FS segment includes online brokerage in the business-to-consumer (B2C) sector in Germany (on trading platforms such as flatex.de, vitrade.de) and Austria (flatex.at). The operations are conducted by the subsidiaries flatex GmbH and ViTrade GmbH. The TP & WLBS segment includes the business-to-business (B2B) activities of subsidiaries XCOM AG and FinTech Group Bank AG that focus on research and development in the area of financial technology and provide back-end execution of securities transactions for the Company's own platforms and for other banks, as well as offer business process outsourcing services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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