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
12/18/2025	CURY Currys	Boost Price Target	GBX 131	GBX 200 ➝ GBX 210	Buy
12/18/2025	FRP FRP Advisory Group	Reiterated Rating	GBX 133	GBX 220	Buy
12/17/2025	GLCNF Glencore	Set Price Target	$5.00	$12.90
12/17/2025	EDV Endeavour Mining	Boost Price Target	C$71.00	C$79.00 ➝ C$85.00
12/17/2025	GLNCY Glencore	Upgrade	$10.00		Hold ➝ Strong-Buy
12/15/2025	NTOIF Neste Oyj	Upgrade	$22.00		Hold ➝ Buy
12/15/2025	NTOIY Neste OYJ	Upgrade	$11.00		Hold ➝ Strong-Buy
12/11/2025	BNTX BioNTech	Boost Price Target	$93.00	$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 600	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 198	GBX 360 ➝ GBX 335	Buy
12/4/2025	WTB Whitbread	Lower Price Target	GBX 2,578	GBX 3,500 ➝ GBX 2,900	Buy
12/4/2025	CPG Compass Group	Boost Price Target	GBX 2,404	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 164	GBX 450 ➝ GBX 300	Buy
12/4/2025	TPFG The Property Franchise Group	Reiterated Rating	GBX 520	GBX 645	Buy
12/4/2025	ITM ITM Power	Reiterated Rating	GBX 64	GBX 100	Buy
12/3/2025	VIC Victorian Plumbing Group	Reiterated Rating	GBX 71	GBX 125	Buy
12/3/2025	BMY Bloomsbury Publishing	Reiterated Rating	GBX 480	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 415	GBX 580 ➝ GBX 560	Buy
12/2/2025	LLY Eli Lilly and Company	Boost Price Target	$1,064.00	$830.00 ➝ $950.00	Hold ➝ Hold
11/28/2025	MHGVY Marine Harvest ASA	Upgrade	$24.00		Hold ➝ Strong-Buy
11/28/2025	ZS Zscaler	Lower Price Target	$230.00	$400.00 ➝ $390.00	Buy ➝ Buy
11/28/2025	KETL Strix Group	Lower Price Target	GBX 45	GBX 85 ➝ GBX 75	Buy
11/28/2025	UTG Unite Group	Reiterated Rating	GBX 549	GBX 855	Buy
11/28/2025	DATA GlobalData	Lower Price Target	GBX 108	GBX 260 ➝ GBX 170	Buy
11/28/2025	BOY Bodycote	Reiterated Rating	GBX 710	GBX 800	Buy
11/28/2025	SMIN Smiths Group	Reiterated Rating	GBX 2,412	GBX 2,750	Hold
11/27/2025	ATG Auction Technology Group	Lower Price Target	GBX 296	GBX 560 ➝ GBX 460	Buy
11/27/2025	DOCS Dr. Martens	Reiterated Rating	GBX 76		Buy
11/27/2025	CURY Currys	Reiterated Rating	GBX 131	GBX 200	Buy
11/27/2025	EVOK Evoke	Downgrade	GBX 21	GBX 95 ➝ GBX 35	Hold
11/27/2025	ENT Entain	Lower Price Target	GBX 755	GBX 1,400 ➝ GBX 1,200	Buy
11/27/2025	FLTR Flutter Entertainment	Lower Price Target	£165.65	£242 ➝ £181	Buy
11/27/2025	PAF Pan African Resources	Reiterated Rating	GBX 112	GBX 112	Buy
11/26/2025	SAAS Microlise Group	Lower Price Target	GBX 95	GBX 210 ➝ GBX 145	Buy
11/26/2025	JDG Judges Scientific	Reiterated Rating	GBX 5,820	GBX 7,900	Buy
11/26/2025	BEZ Beazley	Lower Price Target	GBX 834	GBX 1,150 ➝ GBX 1,100	Buy
11/26/2025	MCG Mobico Group	Reiterated Rating	GBX 25	GBX 35	Hold
11/26/2025	GBG GB Group	Reiterated Rating	GBX 254	GBX 340	Buy
11/26/2025	HLCL Helical	Reiterated Rating	GBX 185	GBX 183	Hold
11/25/2025	KGF Kingfisher	Boost Price Target	GBX 310	GBX 331 ➝ GBX 334	Hold
11/25/2025	CWK Cranswick	Boost Price Target	GBX 5,110	GBX 5,540 ➝ GBX 5,770	Hold
11/25/2025	JMAT Johnson Matthey	Lower Price Target	GBX 2,156	GBX 2,100 ➝ GBX 2,050	Hold
11/25/2025	GNS Genus	Initiated Coverage	GBX 2,570	GBX 3,050	Buy
11/25/2025	BNTX BioNTech	Reiterated Rating	$93.00		Buy
11/25/2025	RNWH Renew	Reiterated Rating	GBX 889	GBX 1,200	Buy
11/25/2025	ZEG Zegona Communications	Reiterated Rating	GBX 1,335	GBX 1,350	Buy
11/25/2025	GROW Molten Ventures	Reiterated Rating	GBX 497	GBX 580	Buy
11/25/2025	TEP Telecom Plus	Reiterated Rating	GBX 1,374	GBX 2,600	Buy
11/24/2025	GSK GSK	Boost Price Target	GBX 1,812	GBX 1,600 ➝ GBX 1,660	Hold
11/24/2025	RBW Rainbow Rare Earths	Reiterated Rating	GBX 18	GBX 33	Buy
11/24/2025	CER Cerillion	Reiterated Rating	GBX 1,213	GBX 2,125	Buy
11/24/2025	SAA M&C Saatchi	Lower Price Target	GBX 128	GBX 200 ➝ GBX 150	Buy
11/21/2025	SNR Senior	Reiterated Rating	GBX 194	GBX 275	Buy
11/21/2025	IPAR Interparfums	Initiated Coverage	$82.00	$103.00	Buy
11/20/2025	LMP LondonMetric Property	Reiterated Rating	GBX 186	GBX 269	Buy
11/20/2025	LIO Liontrust Asset Management	Lower Price Target	GBX 264	GBX 340 ➝ GBX 320	Hold
11/19/2025	SMIN Smiths Group	Boost Price Target	GBX 2,412	GBX 1,850 ➝ GBX 2,750	Hold
11/19/2025	ATYM Atalaya Mining	Upgrade	GBX 805	GBX 630 ➝ GBX 760	Buy
11/19/2025	TBTG The Boutique Group	Boost Price Target	GBX 280	GBX 400 ➝ GBX 420	Buy
11/19/2025	ECO Eco (Atlantic) Oil & Gas	Reiterated Rating	GBX 20	GBX 125	Buy
11/19/2025	CWR Ceres Power	Boost Price Target	GBX 219	GBX 300 ➝ GBX 530	Buy
11/19/2025	WKP Workspace Group	Reiterated Rating	GBX 388	GBX 403	Buy
11/19/2025	KMR Kenmare Resources	Lower Price Target	GBX 229	GBX 330 ➝ GBX 300	Hold
11/19/2025	DPLM Diploma	Reiterated Rating	GBX 5,385	GBX 6,350	Buy
11/19/2025	BLND British Land	Reiterated Rating	GBX 385	GBX 506	Buy
11/18/2025	CRST Crest Nicholson	Lower Price Target	GBX 136	GBX 195 ➝ GBX 180	Hold
11/18/2025	VLX Volex	Boost Price Target	GBX 413	GBX 430 ➝ GBX 470	Buy
11/18/2025	ZS Zscaler	Initiated Coverage	$230.00	$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	$78.00	$114.00	Buy
11/18/2025	RPD Rapid7	Initiated Coverage	$15.00	$16.00	Hold
11/18/2025	QLYS Qualys	Initiated Coverage	$142.00	$165.00	Hold
11/18/2025	OKTA Okta	Initiated Coverage	$90.00	$145.00	Buy
11/18/2025	CRWD CrowdStrike	Initiated Coverage	$483.00	$600.00	Hold
11/18/2025	GEN Genuit Group	Lower Price Target	GBX 324	GBX 540 ➝ GBX 500	Buy
11/18/2025	CVSG CVS Group	Reiterated Rating	GBX 1,264	GBX 2,000	Buy
11/18/2025	TRI Trifast	Reiterated Rating	GBX 71	GBX 130	Buy
11/17/2025	MRNA Moderna	Set Price Target	$33.00	$28.00
11/17/2025	SRAD Stelrad Group	Lower Price Target	GBX 151	GBX 200 ➝ GBX 190	Buy
11/17/2025	SRE Sirius Real Estate	Lower Price Target	GBX 93	GBX 134 ➝ GBX 133	Buy
11/17/2025	VIP Value and Indexed Property Income	Lower Price Target	GBX 205	GBX 200 ➝ GBX 199	Hold
11/17/2025	BNTX BioNTech	Reiterated Rating	$93.00		Buy ➝ Buy
11/17/2025	ACG ACG Acquisition	Boost Price Target	GBX 1,070	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 104	GBX 135	Buy
11/14/2025	PFD Premier Foods	Boost Price Target	GBX 178	GBX 270 ➝ GBX 280	Buy
11/14/2025	QQ QinetiQ Group	Lower Price Target	GBX 444	GBX 570 ➝ GBX 550	Buy
11/14/2025	FRP FRP Advisory Group	Reiterated Rating	GBX 133	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 442	GBX 550 ➝ GBX 600	Buy
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 3,832	GBX 4,300	Buy
11/13/2025	HTWS Helios Towers	Boost Price Target	GBX 161	GBX 175 ➝ GBX 215	Buy