Berenberg Bank Stock Recommendations and Price Targets

This is a list of recent ratings by Berenberg Bank.

Date	Company Name	Action	Current Price	Price Target	Rating
12/11/2025	BNTX BioNTech	Boost Price Target	$95.00	$150.00 ➝ $155.00	Buy ➝ Buy
12/11/2025	GLPEY Galp Energia SGPS	Downgrade	$8.00		Strong-Buy ➝ Hold
12/9/2025	SSREY Swiss Re	Downgrade	$41.00		Strong-Buy ➝ Hold
12/5/2025	DSCV discoverIE Group	Reiterated Rating	GBX 593	GBX 950	Buy
12/5/2025	MGAM Morgan Advanced Materials	Reiterated Rating	GBX 214	GBX 250	Buy
12/4/2025	BCG Baltic Classifieds Group	Lower Price Target	GBX 194	GBX 360 ➝ GBX 335	Buy
12/4/2025	WTB Whitbread	Lower Price Target	GBX 2,349	GBX 3,500 ➝ GBX 2,900	Buy
12/4/2025	CPG Compass Group	Boost Price Target	GBX 2,324	GBX 3,000 ➝ GBX 3,100	Buy
12/4/2025	PPG PPG Industries	Lower Price Target	$103.00	$131.00 ➝ $110.00	Hold ➝ Hold
12/4/2025	BME B&M European Value Retail	Lower Price Target	GBX 159	GBX 450 ➝ GBX 300	Buy
12/4/2025	TPFG The Property Franchise Group	Reiterated Rating	GBX 525	GBX 645	Buy
12/4/2025	ITM ITM Power	Reiterated Rating	GBX 66	GBX 100	Buy
12/3/2025	VIC Victorian Plumbing Group	Reiterated Rating	GBX 73	GBX 125	Buy
12/3/2025	BMY Bloomsbury Publishing	Reiterated Rating	GBX 476	GBX 825	Buy
12/2/2025	NRR NewRiver REIT	Reiterated Rating	GBX 68	GBX 128	Buy
12/2/2025	CLI CLS	Reiterated Rating	GBX 58	GBX 70	Buy
12/2/2025	FSG Foresight Group	Lower Price Target	GBX 413	GBX 580 ➝ GBX 560	Buy
12/2/2025	LLY Eli Lilly and Company	Boost Price Target	$1,028.00	$830.00 ➝ $950.00	Hold ➝ Hold
11/28/2025	MHGVY Marine Harvest ASA	Upgrade	$23.00		Hold ➝ Strong-Buy
11/28/2025	ZS Zscaler	Lower Price Target	$236.00	$400.00 ➝ $390.00	Buy ➝ Buy
11/28/2025	KETL Strix Group	Lower Price Target	GBX 36	GBX 85 ➝ GBX 75	Buy
11/28/2025	UTG Unite Group	Reiterated Rating	GBX 524	GBX 855	Buy
11/28/2025	DATA GlobalData	Lower Price Target	GBX 110	GBX 260 ➝ GBX 170	Buy
11/28/2025	BOY Bodycote	Reiterated Rating	GBX 685	GBX 800	Buy
11/28/2025	SMIN Smiths Group	Reiterated Rating	GBX 2,330	GBX 2,750	Hold
11/27/2025	ATG Auction Technology Group	Lower Price Target	GBX 283	GBX 560 ➝ GBX 460	Buy
11/27/2025	DOCS Dr. Martens	Reiterated Rating	GBX 77		Buy
11/27/2025	CURY Currys	Reiterated Rating	GBX 128	GBX 200	Buy
11/27/2025	EVOK Evoke	Downgrade	GBX 23	GBX 95 ➝ GBX 35	Hold
11/27/2025	ENT Entain	Lower Price Target	GBX 739	GBX 1,400 ➝ GBX 1,200	Buy
11/27/2025	FLTR Flutter Entertainment	Lower Price Target	£167.11	£242 ➝ £181	Buy
11/27/2025	PAF Pan African Resources	Reiterated Rating	GBX 113	GBX 112	Buy
11/26/2025	SAAS Microlise Group	Lower Price Target	GBX 96	GBX 210 ➝ GBX 145	Buy
11/26/2025	JDG Judges Scientific	Reiterated Rating	GBX 5,700	GBX 7,900	Buy
11/26/2025	BEZ Beazley	Lower Price Target	GBX 814	GBX 1,150 ➝ GBX 1,100	Buy
11/26/2025	MCG Mobico Group	Reiterated Rating	GBX 23	GBX 35	Hold
11/26/2025	GBG GB Group	Reiterated Rating	GBX 250	GBX 340	Buy
11/26/2025	HLCL Helical	Reiterated Rating	GBX 189	GBX 183	Hold
11/25/2025	KGF Kingfisher	Boost Price Target	GBX 303	GBX 331 ➝ GBX 334	Hold
11/25/2025	CWK Cranswick	Boost Price Target	GBX 4,925	GBX 5,540 ➝ GBX 5,770	Hold
11/25/2025	JMAT Johnson Matthey	Lower Price Target	GBX 2,042	GBX 2,100 ➝ GBX 2,050	Hold
11/25/2025	GNS Genus	Initiated Coverage	GBX 2,497	GBX 3,050	Buy
11/25/2025	BNTX BioNTech	Reiterated Rating	$95.00		Buy
11/25/2025	RNWH Renew	Reiterated Rating	GBX 886	GBX 1,200	Buy
11/25/2025	ZEG Zegona Communications	Reiterated Rating	GBX 1,444	GBX 1,350	Buy
11/25/2025	GROW Molten Ventures	Reiterated Rating	GBX 470	GBX 580	Buy
11/25/2025	TEP Telecom Plus	Reiterated Rating	GBX 1,412	GBX 2,600	Buy
11/24/2025	GSK GSK	Boost Price Target	GBX 1,824	GBX 1,600 ➝ GBX 1,660	Hold
11/24/2025	RBW Rainbow Rare Earths	Reiterated Rating	GBX 17	GBX 33	Buy
11/24/2025	CER Cerillion	Reiterated Rating	GBX 1,255	GBX 2,125	Buy
11/24/2025	SAA M&C Saatchi	Lower Price Target	GBX 124	GBX 200 ➝ GBX 150	Buy
11/21/2025	SNR Senior	Reiterated Rating	GBX 190	GBX 275	Buy
11/21/2025	IPAR Interparfums	Initiated Coverage	$84.00	$103.00	Buy
11/20/2025	LMP LondonMetric Property	Reiterated Rating	GBX 182	GBX 269	Buy
11/20/2025	LIO Liontrust Asset Management	Lower Price Target	GBX 254	GBX 340 ➝ GBX 320	Hold
11/19/2025	SMIN Smiths Group	Boost Price Target	GBX 2,330	GBX 1,850 ➝ GBX 2,750	Hold
11/19/2025	ATYM Atalaya Mining	Upgrade	GBX 775	GBX 630 ➝ GBX 760	Buy
11/19/2025	TBTG The Boutique Group	Boost Price Target	GBX 278	GBX 400 ➝ GBX 420	Buy
11/19/2025	ECO Eco (Atlantic) Oil & Gas	Reiterated Rating	GBX 18	GBX 125	Buy
11/19/2025	CWR Ceres Power	Boost Price Target	GBX 272	GBX 300 ➝ GBX 530	Buy
11/19/2025	WKP Workspace Group	Reiterated Rating	GBX 380	GBX 403	Buy
11/19/2025	KMR Kenmare Resources	Lower Price Target	GBX 248	GBX 330 ➝ GBX 300	Hold
11/19/2025	DPLM Diploma	Reiterated Rating	GBX 5,315	GBX 6,350	Buy
11/19/2025	BLND British Land	Reiterated Rating	GBX 383	GBX 506	Buy
11/18/2025	CRST Crest Nicholson	Lower Price Target	GBX 129	GBX 195 ➝ GBX 180	Hold
11/18/2025	VLX Volex	Boost Price Target	GBX 415	GBX 430 ➝ GBX 470	Buy
11/18/2025	ZS Zscaler	Initiated Coverage	$236.00	$400.00	Buy
11/18/2025	S SentinelOne	Initiated Coverage	$15.00	$25.00	Buy
11/18/2025	SAIL SailPoint	Initiated Coverage	$21.00	$31.70	Buy
11/18/2025	RBRK Rubrik	Initiated Coverage	$82.00	$114.00	Buy
11/18/2025	RPD Rapid7	Initiated Coverage	$16.00	$16.00	Hold
11/18/2025	QLYS Qualys	Initiated Coverage	$153.00	$165.00	Hold
11/18/2025	OKTA Okta	Initiated Coverage	$90.00	$145.00	Buy
11/18/2025	CRWD CrowdStrike	Initiated Coverage	$505.00	$600.00	Hold
11/18/2025	GEN Genuit Group	Lower Price Target	GBX 326	GBX 540 ➝ GBX 500	Buy
11/18/2025	CVSG CVS Group	Reiterated Rating	GBX 1,216	GBX 2,000	Buy
11/18/2025	TRI Trifast	Reiterated Rating	GBX 75	GBX 130	Buy
11/17/2025	MRNA Moderna	Set Price Target	$29.00	$28.00
11/17/2025	SRAD Stelrad Group	Lower Price Target	GBX 145	GBX 200 ➝ GBX 190	Buy
11/17/2025	SRE Sirius Real Estate	Lower Price Target	GBX 91	GBX 134 ➝ GBX 133	Buy
11/17/2025	VIP Value and Indexed Property Income	Lower Price Target	GBX 196	GBX 200 ➝ GBX 199	Hold
11/17/2025	BNTX BioNTech	Reiterated Rating	$95.00		Buy ➝ Buy
11/17/2025	ACG ACG Acquisition	Boost Price Target	GBX 1,090	GBX 1,190 ➝ GBX 1,740	Buy
11/17/2025	OMVKY OMV	Downgrade	$14.00		Strong-Buy ➝ Hold
11/17/2025	TW Taylor Wimpey	Reiterated Rating	GBX 102	GBX 135	Buy
11/14/2025	PFD Premier Foods	Boost Price Target	GBX 173	GBX 270 ➝ GBX 280	Buy
11/14/2025	QQ QinetiQ Group	Lower Price Target	GBX 431	GBX 570 ➝ GBX 550	Buy
11/14/2025	FRP FRP Advisory Group	Reiterated Rating	GBX 143	GBX 220	Buy
11/13/2025	TIG Team Internet Group	Lower Price Target	GBX 48	GBX 100 ➝ GBX 90	Buy
11/13/2025	FDEV Frontier Developments	Boost Price Target	GBX 492	GBX 550 ➝ GBX 600	Buy
11/13/2025	VWDRY Vestas Wind Systems AS	Downgrade	$9.00		Strong-Buy ➝ Hold
11/13/2025	LORD Lords Group Trading	Lower Price Target	GBX 23	GBX 80 ➝ GBX 65	Buy
11/13/2025	EDV Endeavour Mining	Reiterated Rating	GBX 3,572	GBX 4,300	Buy
11/13/2025	HTWS Helios Towers	Boost Price Target	GBX 159	GBX 175 ➝ GBX 215	Buy
11/13/2025	ASC ASOS	Reiterated Rating	GBX 253	GBX 600	Buy
11/13/2025	KLR Keller Group	Reiterated Rating	GBX 1,608	GBX 1,900	Buy
11/12/2025	BOWL Hollywood Bowl Group	Reiterated Rating	GBX 278	GBX 440	Buy
11/12/2025	HFG Hilton Food Group	Lower Price Target	GBX 494	GBX 1,090 ➝ GBX 790	Buy
11/12/2025	FTC Filtronic	Reiterated Rating	GBX 143	GBX 196	Buy
11/12/2025	TBTG The Boutique Group	Initiated Coverage	GBX 278	GBX 400	Buy