RICHTER GEDEON - Interesting year Ahead

We raise our Dec-26 ex-div TP to HUF 15,290 and reiterate our Buy recommendation as we upgraded the stock from Neutral on 1 February. This implies a TR upside potential of 36% including an expected gross DPS of HUF 633.

ASTA Energy Solutions AG : Copper-bottomed growth profile

We are initiating coverage on ASTA Energy Solutions AG’s (ASTA) with an Outperform rating and a target price of € 49. ASTA was floated at the end of January (Frankfurt Prime Standard) and will be using the proceeds from the IPO to finance its production capacity expansion (brownfield) in dynamic global utility transformer markets with high growth rates (CAGR of about 6-9%). We consider ASTA as an earnings growth case (EBITDA CAGR 2024-2029e of 20.3%). With gross proceeds of € 125m, the company l...

OTP - TP Lifted On Promising 2026 Guidance

Key message: OTP Group concluded 2025 with an outstanding performance, characterized by a consolidated profit after tax of HUF 1,146bn, translating to a robust 21.6% ROE (-1.8ppt YoY) driven by lower leverage. Consolidated adj. net profit reached HUF 297bn in Q4, representing a robust 20% increase YoY. While this growth is impressive, the result was 1% lower than the analyst consensus average of HUF 300bn. Core markets continued to perform well in Q4.

Prisma Properties AB: 1 director

A director at Prisma Properties AB sold 600,000 shares at 23.880SEK and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years c...

Wizz Air - TP Cut Driven By The Middle East Conflict

We cut our TP to 16 .5 GBP . We reiterate our cautious Buy recommendation on a long -term fundamental basis as we continue to see the stock ’s valua tion as depressing . That said, the Middle East tension created another wave of selling pressure as Wizz Air is one of the most exposed airlines to the conflict .

BDO Unibank Inc: 2 directors

Two Directors at BDO Unibank Inc sold/bought 45,000 shares at between 123.680PHP and 126.283PHP. The significance rating of the trade was 61/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors ...

February CPI is 2.4%

MOL - Model Update – Controlled Phase Out Of Russian Oil Can Be Manage...

We set our ex-dividend 2026 year-end target price at HUF 3,660, implying an 8.2% total return including our estimated HUF 300 dividend to be paid after the 2025 financial year. Accordingly, we revise our recommendation from Accumulate to Neutral, reflecting current market conditions, as well as company-specific event risks. Russian crude availability remains the most influential factor in our view. Our previous base case assumed gradual normalization, with Russian oil remaining available. O...

Shopper Park Plus - Encouraging Results In Q4, Looking Optimistic For ...

Shopper Park Plus has reported its Q4 and FY figures on Friday, AMC. Results came in strong, though somewhat below our expectations for the full year. The miss was mainly related to one-off expenses for the Hungarian portfolio which should disappear in Q1. The underlying developments are encouraging, showcased by the above CPI level growth in rental income and improved occupancy rates across the portfolio.

JETEMA Co Ltd: 1 director

A director at JETEMA Co Ltd bought 20,000 shares at 9,905.783KRW and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clea...

Novonesis AS: 1 director

A director at Novonesis AS bought 725 shares at 347.400DKK and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sh...

Entera Bio Ltd: 1 director

A director at Entera Bio Ltd bought 20,000 shares at 1.300USD and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly...

Beiersdorf AG: 1 director

A director at Beiersdorf AG bought 479,370 shares at 83.443EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...

Terminating coverage

MOL - MOL Beats On Clean CCS EBITDA, Supported By Waste Management Rec...

Clean CCS EBITDA of the company was strong at USD 877 mn in Q4, beating both market consensus (USD 820 mn) and our expectations (USD 851 mn) despite the challenging environment. Major drivers were a strongly improved circular economy segment, strong performance in consumer services, and favorable intersegment results. On an annual basis, the company achieved USD 3,369 mn, well above the guidance of USD 3,000 mn in a challenging year.