Independent Research Stock Recommendations and Price Targets

This is a list of recent ratings by Independent Research.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
11/11/2021	PFE Pfizer	Upgrade	$26.00	$53.00	Buy	Low
5/4/2021	KCO Klöckner & Co SE	Set Price Target	€6.00	€11.50	Neutral	N/A
5/4/2021	FPE Fuchs	Set Price Target	€35.00	€46.00	Neutral	N/A
5/4/2021	VOS Vossloh	Set Price Target	€44.00	€49.00	Buy	N/A
5/4/2021	SHL Siemens Healthineers	Set Price Target	€53.00	€51.00	Neutral	N/A
5/4/2021	OSR OSRAM Licht	Set Price Target	€57.00	€52.30	Sell	N/A
5/4/2021	WCH Wacker Chemie	Set Price Target	€106.00	€133.00	Neutral	N/A
5/3/2021	LHA Deutsche Lufthansa	Set Price Target	€7.00	€9.90	Sell	N/A
5/3/2021	FIE Fielmann Group	Set Price Target	€43.00	€74.00	Buy	N/A
5/3/2021	AIR Airbus	Set Price Target	€162.00	€103.00	Neutral	N/A
5/3/2021	MTX MTU Aero Engines	Set Price Target	€224.00	€199.00	Sell	N/A
4/30/2021	PUM Puma	Set Price Target	€42.00	€94.00	Neutral	N/A
4/29/2021	DWS DWS Group GmbH & Co. KGaA	Set Price Target	€41.00	€40.00	Buy	N/A
4/29/2021	BAS Basf	Set Price Target	€51.00	€74.00	Neutral	N/A
4/29/2021	SY1 Symrise	Set Price Target	€104.00	€96.00	Sell	N/A
4/29/2021	DHER Delivery Hero	Set Price Target	€29.00	€150.00	Neutral	N/A
4/28/2021	1COV Covestro	Set Price Target	€48.00	€64.00	Buy	N/A
4/27/2021	SAP SAP	Set Price Target	€176.00	€140.00	Buy	N/A
4/26/2021	SZU Südzucker	Set Price Target	€13.00	€14.00	Neutral	N/A
4/26/2021	SZG Salzgitter	Set Price Target	€23.00	€28.00	Neutral	N/A
4/26/2021	DAI Daimler	Set Price Target	€63.00	€88.00	Buy	N/A