Varta (ETR:VAR1) received a €43.00 ($50.00) price target from Berenberg Bank in a note issued to investors on Friday, March 29th, Borsen Zeitung reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 9.69% from the stock’s previous close.
Separately, Hauck & Aufhaeuser set a €33.60 ($39.07) target price on shares of Varta and gave the company a “neutral” rating in a research report on Monday, March 4th.
Shares of VAR1 traded down €0.25 ($0.29) during midday trading on Friday, reaching €39.20 ($45.58). The stock had a trading volume of 58,178 shares. Varta has a 1-year low of €20.36 ($23.67) and a 1-year high of €43.25 ($50.29). The firm has a market capitalization of $1.46 billion and a price-to-earnings ratio of 59.39.
Varta AG, through its subsidiaries, researches, develops, produces, and sells microbatteries and energy storage solutions worldwide. It operates through two segments, Microbatteries and Power & Energy. The Microbatteries segment offers zinc-air batteries for use in hearing aid devices; lithium-ion battery solutions for wireless headphones, as well as for other wearable applications, including electrical appliances, such as Bluetooth headsets and medical devices for measuring hypertension, blood sugar, and bodily functions; and rechargeable battery solutions for server applications, including car keys, alarm systems, or smart meters for industrial and original equipment manufacturers (OEMs).
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