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With an XETRA gain of 5.6 percent to 18 euros, they took third place in the MDAX of medium-sized stocks behind GRENKE and thyssenkrupp. On Monday, the Aareal Bank price had already increased by 2.7 percent.
Citigroup analyst Jens Ehrenberg justified his increased vote for the shares from “neutral” to “buy” with a changed valuation. After the sale of a 30 percent stake in Aareal Bank’s IT subsidiary Aareon to the financial investor Advent in mid-August, he has now started to evaluate the individual parts of the Aareal Group. This better reflects the value of the share sold within the financial group. The price target increased from EUR 17.70 to EUR 25.70 now justifies a buy recommendation.
The price fireworks after the share sale burned out quickly in August. If the price jumped up to almost ten percent at first, these gains were already wasted a day later. From the end of August, the price went down continuously, on Friday it reached EUR 16.20, its lowest level since the beginning of August.
On this Tuesday, the technical situation of the shares brightened up again: With the price gains, they left the 50- and 90-day lines behind, which are considered indicators of the medium-term trend. The day before, the price of the real estate financier had already left the upward trend that began in mid-August.
Aareal Bank also announced in a voting rights notification on Monday that Morgan Stanley holds nine percent of the shares. It is unclear whether the US investment bank holds this position for a client and if so for which one.
/ bek / stw / fba
FRANKFURT (dpa-AFX Broker)
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Image sources: Aareal Bank