FlatexDegiro rises after Exane upgrades seeing opportunities ahead

flatexDEGIRO SE

10/10/2024 02:53

** Shares in FlatexDegiro  FTKn.DE  rise around 3% after
Exane BNP Paribas raises the German online broker to
"outperform" from "neutral," citing opportunities ahead
    ** Exane points to the group's new CEO, changes in corporate
governance and a possible reform of the German private pension
scheme, which would offer a long-term business opportunity
    ** Broker expects the new boss Oliver Behrens to refocus on
business growth, implement new products and launch capital
return strategy to shareholders
    ** While shares are up 25% year-to-date, they have
underperformed their peer Swissquote by about 20%, Exane says
    ** "The current low trading activity provides an upside risk
to estimates," Exane notes
     

 (Reporting by Bernadette Hogg)
 ((bernadette.hogg@thomsonreuters.com))