Analyst Coverage

Commerzbank, Q4/2011 figures in line with expectations, 07-04-2011
Recommendation "Hold", share price target € 1.90 (old 2.00 €)

Warburg Research, Interim Distribution of EUR 0.93 per share, 14-03-2011
Recommendation"Sell", share price target € 2.50

Warburg Research, Acceptance period has started, 11-01-2011
Recommendation "Sell" (old "Hold"), share price target € 2.50

Commerzbank, Takeover offer, limited upside potential, 29-11-2010
Recommendation "Hold" (old "Buy"), share price target € 3.05

Warburg Research, Takeover offer, recommend accepting the offer, 29-11-2010
Recommendation "Hold", share price target € 2.50 (old € 2.30)

Kempen & Ci., Takeover offer, the bid is likely to be a success, 29-11-2010
Recommendation "Buy", share price target € 3.00

Kempen & Co., Q3 Results, Still a promise, 28-10-2010
Recommendation "Buy", share price target € 3.00

Warburg Research, Q3 Results, 27-10-2010
Recommendation "Hold", share price target € 2.25

Commerzbank, Quick Bite Q3 Results 2010, 27-10-2010
Recommendation "Buy", share price target € 3.05

Warburg Research (former SES), Preview Q3/2010, 21-10-2010
Recommendation "Hold" (old: buy), share price target € 2.25 (old € 2.60)

Commerzbank, Preview Q3/2010, 20-10-10
Recommendation "Buy", share price target € 3.05 (old € 3.20)

Kempen & Co., Initial Coverage Report, 03-08-2010
Recommendation "Buy", share price target € 3.00

Commerzbank, Quick Bite H1/2010, 28-07-2010
Recommendation "Buy", share price target € 3.20 (old € 3.30)

SES Research, Comment H1/2010, 28-07-2010
Recommendation "Buy", share price target € 2,65 (old € 2,90)

SES Research, Q2/2010 Preview, 22-07-2010
Recommendation "Buy", share price target € 2,90 (unchanged)

Equity Analyst, Q2/2010 preview, 21-07-10
Recommendation 'Buy", share price target € 3,10 (old € 2,60)

Commerzbank, Initial Coverage, 01-07-2010
Recommendation "Buy", share price target € 3,30

SES Research, Q1/2010 comment, 20-05-2010
Recommendation "Buy", share price target € 2,90

SES Research Full Note 24-02-2010
Recommendation "Buy", share price target € 2,90

SES Research Update 07-01-2010
Recommendation "Buy", share price target € 2,80

SES Research Update 26-10-2009
Equity Analyst,  Recommendation "Buy", share price target € 2,60