Analysts’ recommendations are a safe and secure way to invest in stocks in a particular market. These ratings act as a guiding light for investors to navigate through good and bad times.
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Using the Daily Analyst Rating tool on TipRanks for the German market, we have screened three stocks that were upgraded or re-rated as Buy yesterday. These stocks present a good investment opportunity for investors considering the huge upside potential in their share prices.
Let’s dig deeper into these shares.
SAP SE (DE:SAP)
German software company SAP SE has wide coverage from a total of 17 analysts on TipRanks. Overall, SAP stock has a Moderate Buy rating based on 12 Buy, four Hold, and one Sell recommendations.
Last week, the company reported its Q1 earnings for 2023 with mixed numbers and an updated outlook for the full year. Post-results, many analysts have reiterated their Buy ratings on the stock, considering the solid top-line and operating profit growth expected in 2023.
Yesterday, Goldman Sachs’ analyst Mohammed Moawalla raised his price target on the stock from €145 to €150 while maintaining his Buy rating. His price target implies an upside of 22.3% from the current trading level.
Another analyst, Amit Harchandani from Citigroup upgraded his rating from Hold to Buy on the stock and predicted 22.3% growth in the share price.
Daimler Truck Holding AG (DE:DTG)
Daimler Truck is a German manufacturer of commercial vehicles operating in more than 30 locations worldwide.
The company posted its preliminary results for Q1 2023 on Monday, which surpassed market expectations and were well supported by higher demand and sales. The company will announce its full earnings for the quarter on May 9.
The stock received a lot of positive action from analysts over the last two days. Yesterday, analysts Nicholas Hudson from RBC Capital, Nicolai Kempf from Deutsche Bank, and Daniela Costa from Goldman Sachs reiterated their Buy ratings on the stock. Among the analysts, Hudson has the highest price target on the stock and expects an upside of more than 70% from the current price.
On TipRanks, DTG stock has a Strong Buy rating based on eight Buy and two Hold recommendations. The average price target is €41.88, implying an upside of 35.8%.
ThyssenKrupp AG (DE:TKA)
ThyssenKrupp is a group company with various businesses like industrial components, automotive technology, steel, marine systems, etc. The company has operations in around 48 countries worldwide.
Yesterday, the company’s shares fell around 14% after it announced the departure of its CEO, Martina Merz. The news came as a sudden blow to the shares, adding stress to already worried investors.
Post-announcement of this news, analyst Christian Obst from Baader Bank reiterated his Buy and predicted a huge upside of 159% in the share price from the current level.
Obst said, “We will see if the new CEO can deliver decisions able to regain investor confidence or if he gets caught in the Thyssenkrupp network.”
Overall, TKA stock has a Hold rating on TipRanks at an average price target of €8.73, which is 41.6% higher than the current price.
