The DAX 40 index opened in the red zone today but was trading up by 0.21% at the time of writing.
Yesterday, the index touched a high point above 15,900 after hitting the low mark of 15,740 on Friday last week. Most European markets opened lower on Monday amid the earnings season.
The comments from the ECB (European Central Bank) added more fuel to the bearish atmosphere. One of the board members from the ECB confirmed that another 50 basis point hike is likely to happen.
Apart from the global economic data, corporate earnings will be the main point of influence this week for the DAX 40. Some of the big names from the European markets are set to report their results this week.
Upcoming Earnings This Week
Deutsche Bank AG (DE:DBK)
One of the leading banks in Europe, Deutsche Bank, will report its Q1 earnings for 2023 on April 27. According to TipRanks, the consensus EPS forecast is €0.47, lower than the previous year’s EPS of €0.55 for the same quarter.
Over the last three months, the stock has been trading down by almost 17% after suffering from panic selling in March. Overall, DBK stock has a Moderate Buy rating on TipRanks based on a total of 14 recommendations.
The average price target is €13.95, which implies a more than 40% upside in the share price.
Mercedes-Benz Group (DE:MBG)
Mercedes-Benz is a German luxury car manufacturer and is also among the most powerful automotive companies in the world.
The company will announce its first-quarter results for 2023 on April 28. The consensus EPS forecast for Q1 is €3.16, as compared to €3.26 in the same quarter of 2022. Analysts are bullish on the results, driven by higher demand and increased prices.
According to TipRanks’ consensus rating, MBG stock has a Strong Buy rating based on 14 Buy and two Hold recommendations. With an average price forecast of €91.38, analysts are predicting an increase of 31% in the share price from the current level.
PUMA SE NPV (DE:PUM)
PUMA is a German brand that designs and sells sportswear clothing and footwear all over the world. The company’s stock has gained more than 20% in the last six months, having fallen by 19.7% in the last year.
The company will release its first-quarter results for fiscal year 2023 on April 26. According to analysts, the forecasted EPS on TipRanks is €0.69, and the sales forecast for the quarter is €2.51 billion.
PUM stock has wide coverage from analysts, with a total of 16 recommendations on TipRanks. Overall, the stock has a Strong Buy rating. The average price target of €72.37 indicates a growth of 28% from the current price.