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LBBW raises the target price of the W&W share

LBBW raises the target price of the W&W share to 21 euros, ongoing recommendation to buy

Montega: “Current price pullback unfounded”

Boerse Online: “W&W share is a SDAX dividend-star”

Following publication of the annaul report on 31 December 2015 and yesterday’s telephone conference of analysts, the LBBW has updated its analyst assessment of the W&W share.

After the earnings contributions increased for all sectors in the fourth quarter of 2015, the LBBW rates the quality of the results as high.

“The forecast from W&W for net income in the overall year 2016 is ‘at least 220 million euros’, which we believe is a conservative estimate (LBBWe: 238 million euros)”.

The LBBW believes the W&W share is priced reasonably and confirms its recommendation to buy the security. It is raising its target price from 20 euros to 21 euros.

Also the analyst of Montega is convinced that the current price pullback is unfounded. He expects overall good new business. “The new generation of home savings contracts have high market acceptance.”

At Boerse Online the announced rise of W&W’s dividend stands in the focus - “The rise is bigger than we expected.” In the current issue of Boerse Online W&W share is a SDAX dividend-star.

W&W AG, headquartered in Stuttgart, Germany, is the strategic management holding company for the W&W Group. The W&W Group was founded in 1999 after the merger of the companies Wüstenrot and Württembergische. The “Home Loan and Savings Bank” division includes, inter alia, Wüstenrot Bausparkasse AG and Wüstenrot Bank AG Pfandbriefbank. In terms of gross new home loan business, Wüstenrot Bausparkasse AG is Germany’s second largest home loan and savings bank. The “Insurance” division includes, inter alia, Württembergische Lebensversicherung AG and Württembergische Versicherung AG. These two companies are among the top 15 in the German insurance industry. This unique combination means that the W&W Group can meet all of the precautionary financial needs of its approximately 6 million customers from one source. In 2015 the Group posted record net income of EUR 274 million. Germany is its core market. Outside Germany, the Group maintains a strategic focus on the Czech Republic.