The DAX 40 index traded 1.83% higher and closed at 15,232.8 points on Tuesday. This came as a relief to investors after the index suffered its highest single-day loss in the last two months on Monday.
Starting this week, the index reflected the global weakness of the banking sector due to the failure of SVB Financial Group and Signature Bank in the U.S.
Using the TipRanks Daily Analyst Rating tool, we have picked three German stocks that were rated as Buy by analysts yesterday. These three stocks have huge upside potential in their share prices, as predicted by analysts.
Let’s have a look at these companies.
Brenntag AG (DE:BNR)
Brenntag AG is a distribution company that connects chemical manufacturers to end users while also proving a whole range of solutions.
BNR stock has a wide coverage from analysts on TipRanks with a total of 13 ratings. It includes nine Buy and four Hold recommendations.
Yesterday, analyst Markus Mayer from Baader Bank reiterated his Buy rating on the stock at a target price of €99.00. This implies a 45% upside on the current trading price.
Overall, the stock has a Moderate Buy rating at an average target price of €83.5.
Last week, the company announced its 2022 annual results, with higher earnings numbers driven by huge demand and increased prices. In addition, the company announced a 7% share repurchase program to boost shareholder confidence.
Hypoport SE (DE:HYQ)
Technology company Hypoport has three Buy recommendations on TipRanks, with an overall Strong Buy rating. HYQ stock has an average target price of €128.1, which suggests a huge upside of 70% on the current price.
Yesterday, three analysts from different companies reiterated their Buy ratings on the stock. Sinom Keller from Hauck & Aufhaeuser, Marius Fuhrberg from Warburg Research, and Gerhard Orgonas from Berenberg Bank have Buy ratings on the stock.
Fuhrberg has the highest target price of €235.0, implying a more than 80% upside.
After falling by 62% in the previous year, the stock has gained nearly 30% in the last three months.
STRATEC SE (DE:SBS)
Based on two Buy and two Hold recommendations, SBS stock has a Moderate Buy rating on TipRanks. The average target price of €83.5 shows an increase of 22% on the current price.
STRATEC is a technology company that provides automation solutions to in-vitro diagnostics and life science companies.
Hauck & Aufhaeuser analyst Alexander Galitsa reconfirmed his Buy rating on SBS stock yesterday. His target price of €87 implies an upside of 27%.
The stock is trading down by 35% in the last year, but Galitsa sees this as a buying opportunity for investors as he believes this is just a “temporary setback” and not caused by structural concerns.