Raiffeisen Centrobank

Raiffeisen Centrobank (RCB) is a leading investment bank in Austria and the CEE region and the competence center for equities of the Raiffeisen Banking Group. The bank covers the entire spectrum of services and products around equities, derivatives and equity capital transactions and is a pioneer and market leader in the field of structured products.

RCB Company Research offers you access to in-depth equity research and the latest news on listed Austrian and CEE companies. The research universe comprises roughly 130 stocks from Austria, CEE and Russia. The Company Research team of RCB consists of roughly 20 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.

 

Research Team
  • Research Team

Raiffeisen Research Institutional Equity Daily 30.11.2022

 MSCI November Index Review - Standard indices (STD) changes: DEL: Orange Polska; SmallCap indices (SC) changes: DEL: FACC, Telekom Austria;  AT: Andritz - Andritz to supply equipment to Sappi in Austria (neutral)  AT: OMV - Market rumors about Carlyle's interest in OMV's upstream assets (neutral)  AT: Vienna Insurance Group - Hartwig Löger confirmed to become CEO (neutral)  PL: LPP - CEO states company has prepared for weaker sales in coming months (negative)  PL: Santander Bank Polska ...

Markus Remis
  • Markus Remis

Rosenbauer confirmed at HOLD, TP EUR 38 - Model update: Cutting FY 22 ...

We maintain the HOLD recommendation but tweak the target price to EUR 38 from EUR 39 We project break-even EBIT (guidance: positive EBIT) and a net loss for FY 22e. We think a dividend omission is well possible Given several guidance revisions in the last two years, a track record needs to be restored. We think there is reason to believe that next year could mark a turning point Apart from a certain relief from retreated material costs and less strained supply chains as well as the non-recurrenc...

Research Team
  • Research Team

Raiffeisen Research Institutional Equity Daily 29.11.2022

 AT: AGRANA - Defining sustainability targets (neutral)  AT: Andritz - Andritz received a follow-up tissue machine order from Xuan Mai paper in Vietnam (neutral)  AT: Telekom Austira - No agreements treached in wage negotiations (neutral)  DE: Encavis - Encavis acquired a 55 MW solar park in Spain (neutral)  PL: PKN - Solid earnings despite a less supportive macro environment (positive)

Oliver Simkovic
  • Oliver Simkovic

S IMMO Q3 22 - Earnings ahead of estimates

Strong top line trends continue with rental income +19% yoy Better than expected cost performance drives FFO earnings beat We see the results as positive

Markus Remis
  • Markus Remis

PORR Q3 22 - FY 22 outlook fine-tuned to the upside, now in line with ...

Q3 results shaped by 7% output growth and essentially flat EBITDA Order intake stable, backlog stands at comfortable level of EUR 7.86 bn FY 22 objectives fine-tuned the targets to the upside, now living up to our forecasts Output target of about EUR 6 bn vs. RBIe EUR 6.1 bn and EBT of > EUR 100 mn vs. RBIe EUR 108 mn Despite the positive notion of higher full-year targets, given that we have considered the guidance as conservative for some time, we still have a more neutral view

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