Analyst comments

May 15, 2013 M.M.Warburg, Recommendation: "Buy",
Target Price: 18,00 Euro

May 14, 2013 Kempen, Recommendation: "Buy",
Target Price: 18,75 Euro

May 14, 2013 Montega, Recommendation: "Hold",
Target Price: 17,00 Euro

March 28, 2013 M.M.Warburg, Recommendation: "Buy",
Target Price: 19,00 Euro

March 21, 2013 M.M.Warburg, Recommendation: "Buy",
Target Price: 19,00 Euro

March 19, 2013 Kempen, Recommendation: "Buy",
Target Price: 18,70 Euro

March 15, 2013 Kempen, Recommendation: “Hold“,
Target Price: 17,30 Euro

February 4, 2013 Kempen, Recommendation: "Hold",
Target Price: 17,30 Euro

January 31, 2013 M.M.Warburg, Recommendation: "Buy",
Target Price: 19,00 Euro

January 31, 2013 HSBC, Recommendation: "Overweight",
Target Price: 19,00 Euro

January 31, 2013 Montega, Recommendation: "Buy",
Target Price: 17,00 Euro

December 19, 2012 Montega, Recommendation: "Buy",
Target Price: 15,50 Euro

November 15, 2012 Montega, Recommendation: "Buy",
Target Price: 15,00 Euro

November 15, 2012 HSBC, Recommendation: "Overweight",
Target Price: 17,00 Euro

November 14, 2012 Kempen, Recommendation: "Hold",
Target Price: 15,10 Euro

November 14, 2012 M.M.Warburg, Recommendation: "Buy",
Target Price: 19,00 Euro

October 18, 2012 M.M.Warburg, Recommendation: "Buy",
Target Price: 19,00 Euro

October 5, 2012 BHF Bank, Recommendation: "Overweight",
Target Price: 19,00 Euro

August 28, 2012 BHF Bank, Recommendation: "Overweight",
Target Price: 16,00 Euro

August 17, 2012 HSBC, Recommendation: “Overweight“,
Target Price: 16,00 Euro

August 15, 2012 M.M.Warburg, Recommendation: “Buy”,
Target Price: 17,00 Euro

August 14, 2012 Kempen, Recommendation: „Hold“,
Target Price: 13,90 Euro

August 9, 2012 M.M.Warburg, Recommendation: “Buy”,
Target Price: 17,00 Euro

January 30, 2012 Kempen, Recommendation: „Hold“,
Target Price: 12,50 Euro

January 30, 2012 HSBC, Recommendation: „Overweight“,
Target Price: 16,00 Euro

November 16, 2011 HSBC, Recommendation: "Overweight",
Target Price: 16,50 Euro
 
November 15, 2011 M.M.Warburg, Recommendation: “Buy”,
Target Price: 18,00 Euro

November 11, 2011 Montega, Recommendation: „Buy“,
Target Price: 15,50 Euro

November 8, 2011 BHF Bank, Recommendation: "Overweight",
Target Price: 17,00 Euro

September 28, 2011 HSBC, Recommendation: "Overweight",
Target Price: 19,00 Euro

August 17, 2011 HSBC, Recommendation: "Overweight",
Target Price: 23,00 Euro

August 17, 2011 HSBC, Recommendation: "Overweight",
Target Price: 23,00 Euro

August 12, 2011 Montega, Recommendation: “Buy”,
Target Price: 21,00 Euro

August 8, 2011 Berenberg, Recommendation: "Buy",
Target Price: 21,50 Euro

July 25, 2011 Montega, Recommendation: "Buy",
Target Price: 24,50 Euro

July 20, 2011 Berenberg, Recommendation: "Buy",
Target Price: 22,50 Euro

July 19, 2011 BHF Bank, Recommendation: "Overweight",
Target Price: 25,00 Euro

July 7, 2011 BHF Bank, Recommendation: "Overweight",
Target Price: 25,00 Euro

June 21st, 2011 HSBC, Recommendation: "Overweight",
Target Price: 24,00 Euro

June 14, 2011 Montega, Recommendation: "Buy",
Target Price: 25,00 Euro

June 7, 2011 BHF Bank, Recommendation: "Overweight",
Target Price: 25,00 Euro

May 11, 2011 Berenberg, Recommendation: "Buy",
Target Price: 24,50 Euro

May 2nd, 2011 Berenberg, Recommendation: "Hold",
Target Price: 24,50 Euro

March 17, 2011 Berenberg, Recommendation: "Buy",
Target Price: 24,50 Euro

Februar 10, 2011 BHF Bank, Recommendation: "Overweight",
Target Price: 25,00 Euro

January 29, 2011 M.M.Warburg, Recommendation: "Buy",
Target Price: 24,00 Euro

January 24, 2011 HSBC, Recommendation: "Overweight",
Target Price: 24,00 Euro

January 14, 2011 Montega, Recommendation: "Buy",
Target Price: 25,00 Euro

January 13, 2011 Solventis, Recommendation: "Buy",
Target Price: 20,80 Euro

November 15, 2010 M.M.Warburg, Recommendation: "Buy",
Target Price: 19,50 Euro

November 11, 2010 Berenberg, Recommendation: "Buy",
Target Price: 19,00 Euro

October 6, 2010 M.M.Warburg, Recommendation: "Buy",
Target Price: 19,00 Euro

October 6, 2010 Berenberg, Recommendation: "Buy",
Target Price: 19,00 Euro

August 16, 2010 HSBC, Recommendation: "Overweight",
Target Price: 16.00 Euro

August 12, 2010 M.M.Warburg, Recommendation: "Buy",
Target Price: 18.00 Euro

August 12, 2010 Berenberg, Recommendation: "Buy",
Target Price: 17,00 Euro

July 13, 2010 Berenberg, Recommendation: "Buy",
Target Price: 17,00 Euro

May 6, 2010 Berenberg, Recommendation: "Buy",
Target Price: 17.00 Euro

April 27, 2010 Commerzbank, Recommendation: "Buy",
Target Price: 15.00 Euro

April 6, 2010 M.M.Warburg, Recommendation: "Buy",
Target Price: 16.00 Euro

March 31, 2010 HSBC, Recommendation: "Overweight",
Target Price: 15.00 Euro

March 29, 2010 Commerzbank, Recommendation: "Buy",
Target Price: 15.00 Euro

March 24, 2010 Berenberg, Recommendation: "Buy",
Target Price: 14.50 Euro

January 26, 2010 Commerzbank, Recommendation: "Hold",
Target Price: 12.00 Euro

January 11, 2010 Berenberg, Recommendation: "Buy",
Target Price: 14.50 Euro

January 11, 2010 HSBC, Recommendation: "Overweight",
Target Price: 13.00 Euro

November 09, 2009 Solventis, Recommendation: "Buy",
Target Price: 10.75 Euro

November 09, 2009 M.M.Warburg, Recommendation: "Buy",
Target Price: 12.00 Euro

November 04, 2009 Commerzbank, Recommendation: "Add",
Target Price: 9.50 Euro

October 28, 2009 Berenberg, Recommendation: "Buy",
Target Price: 13.00 Euro

October 12, 2009 HSBC, Recommendation: "Overweight",
Target Price: 13,00 Euro

August 14, 2009 Solventis, Recommendation: "Buy",
Target Price: 10,00 Euro

August 12, 2009 M.M.Warburg, Recommendation: "Hold",
Target Price: 9,00 Euro

July 1, 2009 Berenberg, Recommendation: "Buy",
Target Price: 11.00 Euro

May 14, 2009 HSBC, Recommendation: "Overweight"
Target Price: 15.00 Euro

April 2, 2009 Solventis, Recommendation: "Buy"
Target Price: 10.00 Euro

March 26, 2009 Sal. Oppenheim, Recommendation: "Buy"
Target Price: 15.00 Euro

February 18, 2009 Commerzbank, Recommendation: "Buy"
Target Price: 12.00 Euro

January 27, 2009 Berenberg, Recommendation: "Buy"
Target Price: 14.00 Euro

December 15, 2008 HSBC, Recommendation: "Overweight"
Target Price: 15.00 Euro

November 14, 2008 M.M.Warburg, Recommendation: "Buy"
Target Price: 14.00 Euro

November 12, 2008 Berenberg, Recommendation: "Buy"
Target Price: 14.00 Euro

November 11, 2008 Commerzbank, Recommendation: "Buy"
Target Price: 14.00 Euro

October 15, 2008  Berenberg, Recommendation: "Buy",
Target Price: 14.00 Euro

August 18, 2008  Solventis, Recommendation: "Buy",
Target Price: 17.50 Euro

August 14, 2008  HSBC, Recommendation: "Overweight",
Target Price: 21.00 Euro

August 14, 2008  Sal. Oppenheim, Recommendation: "Buy",
Target Price: 19.00 Euro

August 9, 2008  Berenberg, Recommendation: "Buy",
Target Price: 17.00 Euro

May 21, 2008  Solventis, Recommendation: "Buy",
Target Price: 15.95 Euro

May 20, 2008  Commerzbank, Recommendation: "Buy",
Target Price: 19.00 Euro

April 7, 2008  M.M.Warburg, Recommendation: "Hold",
Target Price: 15.00 Euro

March 25, 2008  M.M.Warburg, Recommendation: "Buy",
Target price: 15.00 Euro
      
March 25, 2008  Solventis, Recommendation: "Buy",
Target price: 15.10 Euro

March 20, 2008  Sal. Oppenheim, Recommendation: "Buy",
Target Price: 18.00 Euro
      
January 28, 2008  Berenberg, Recommendation: "Buy",
Target price: 19.00 Euro
      
January 28, 2008  Citigroup, Recommendation: "Hold",
Target price: 12.50 Euro
      
January 28, 2008  Sal Oppenheim, Recommendation: "Buy",
Target price: 18.00 Euro
      
January 10, 2008  HSBC, Recommendation "Overweight",
Target price: 21.00 Euro
      
January 9, 2008  Berenberg, Recommendation: "Buy",
Target price: 20.00 Euro