BrokerageThe Equities Value Chain

With the goal in mind to become the number one broker for Mid Cap companies based in the DACH region, we facilitate the buying and selling of said equities by matching up buyers and sellers across Europe and arranging the transaction between both parties

Research

Our Equity Research team focused on Mid Caps are specialists for stocks in the German-speaking region (DACH). We deliver proactive, detailed and idea-driven research right on the pulse of the market for a coverage consisting over 150 companies. Whether we are writing ongoing research for maintaining our voluntary coverage or writing transactional research in support of ECM transactions (e.g. IPO research), we consistently go beyond the norm and dissect the story from all the angles we can find before putting pen to paper.

Sales

Our Sales approach combines global reach with local presence, with distribution into UK, France, Germany, Switzerland, Nordics (Sweden, Finland and Denmark) and Benelux (Belgium, Netherlands, Luxembourg). Close and long-standing relations to the relevant investor group for our Mid Cap niche undoubtedly makes us the ideal partner in both the primary and secondary market.
We cover the important financial centers in which our target investors are based and are consistently ranked as the number 1 broker for German Mid Caps according to Extel rankings.

Sales Trading

Our highly experienced, customer-oriented team executes the buying and selling of securities based on orders by institutional clients. Of particular importance in the Mid Cap niche is the reduction of volatility of illiquid stocks to minimize the total transaction costs, achieved by matching up buyers and sellers and creating transaction opportunities which previously did not exist. Our long-standing relationships with interested investors and access to shareholders of various companies leads to high trading market shares and a strong feel for the movement of German Mid Cap shares.

Legal Notices concerning our Equity Research

Conditions for the Internet Presence of Hauck & Aufhäuser Privatbankiers AG (including data protection)

(1) Disclaimer

The information provided on our website is based on sources that we consider to be reliable. However, we do not accept any responsibility for the correctness, completeness or actuality of these information or possible recommendations, or for the economic or fiscal effects. The publications are for general information purposes only and do not replace in any event investor and product related advice. The document is not a recommendation, offer or solicitation to buy or sell the mentioned stock and will not form the basis or a part of any contract.
In no event Hauck & Aufhäuser Privatbankiers AG ("H&A") shall be liable for losses or damages of any kind. This limitation of liability includes direct, indirect as well as consequential damages, which could arise as a result of or related to the access to the usage or performance and scanning of the H&A-website or through the linkage (linking) with other websites, irrespective of H&A IR not having indicated the possibility of such damages.

(2) Data Protection

Your personal data is collected, stored and processed by H&A in compliance with the respective laws. H&A does not pass personal data to third parties without your permission. If you register for a service and thereby provide personal data, we will only use these data insofar as it is essential for the execution of the service. If you should have questions concerning the handling of your data or the transmission reliability, please contact RESEARCH@HA-IB.DE

(3) Linked websites

If you activate certain linkages (links) on the H&A website, you might potentially exit the website of H&A. H&A has not checked the other websites that are linked to the H&A website and assumes no responsibility for the contents, in particular for the products or services offered on these websites, or for the other offers and information.
(4) Valuation basis/rating key

Buy: Sustainable upside potential of more than 10% within 12 months
Sell: Sustainable downside potential of more than 10% within 12 months
Hold: Upside/downside potential limited. No immediate catalyst visible.
Note, H&A does not make recommendations on the basis of performance expected “relative“ to the market.

(5) Remarks

H&A has made every effort to carefully research all information contained in this financial analysis. The information on which the financial analysis is based has been obtained from sources which we believe to be reliable such as, for example, Reuters, Bloomberg and the relevant specialised press as well as the company which is the subject of this financial analysis.
Only that part of the research note is made available to the issuer, who is the subject of this analysis, which is necessary to properly reconcile with the facts. Should this result in considerable changes a reference is made in the research note.
Opinions expressed in this financial analysis are our current opinions as of the issuing date indicated on this document. We do not commit ourselves in advance to whether and in which intervals an update is made. The document and the recommendations and estimations contained therein are not linked - whether directly or indirectly - to the compensation of the analyst responsible for the document.
Please note that our research is only for the personal use of H&A clients. Do not pass on to third parties or make available to third parties.

(6) Disclaimer

This document has been prepared by H&A or one of its affiliates (collectively “H&A“). This document does not claim completeness regarding all the information on the stocks, stock markets or developments referred to in it. On no account should the document be regarded as a substitute for the recipient’s procuring information for himself or exercising his own judgements. The document has been produced for information purposes for institutional clients or market professionals.
Private customers, into whose possession this document comes, should discuss possible investment decisions with their customer service officer as differing views and opinions may exist with regard to the stocks referred to in this document. This document is not a solicitation or an offer to buy or sell the mentioned stock.
The document may include certain descriptions, statements, estimates, and conclusions underlining potential market and company development. These reflect assumptions, which may turn out to be incorrect. H&A and/or its employees accept no liability whatsoever for any direct or consequential loss or damages of any kind arising out of the use of this document or any part of its content. H&A and/or its employees may hold, buy or sell positions in any securities mentioned in this document, derivatives thereon or related financial products. H&A and/or its employees may also act as market-maker or underwrite issues for any securities mentioned in this document, derivatives thereon or related financial products or perform or seek to perform capital market or underwriting services.
H&A reserves all the rights in this document. No part of the document or its content may be rewritten, copied, photocopied or duplicated in any form by any means or redistributed without H&A’s prior written consent.
(7) Remarks regarding foreign investors

The preparation of this document is subject to regulation by German law. The distribution of this document in other jurisdictions may be restricted by law, and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions.

(8) United Kingdom

This document is meant exclusively for institutional investors and market professionals but not for private customers. It is not for distribution to or the use of private investors or private customers.

(9) Competent supervisory authority

Bundesanstalt für Finanzdienstleistungsaufsicht -BaFin- (Federal Financial Supervisory Authority), Graurheindorfer Straße 108, 53117 Bonn and Lurgiallee 12, 60439

Further information

Further information regarding investment recommendations of the last 12 months pursuant to Article 4(1)(i) of the delegated regulation 2016/958 supplementing regulation 596/2014 of the European Parliament: RECOMMENDATION LIST

Note – Conflict of interest: A commercial link between Hauck & Aufhäuser and Tom Tailor exists as a result of the investment in Tom Tailor by the parent company of Hauck & Aufhäuser Privatbankiers.

ContactHow can we help you?

Marc Osigus

Head of Investment Banking

Tel.: +49 40414388570 Marc.Osigus@ha-ib.de