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The valuations underlying the investment recommendations for stocks analyzed by LeanVal Invest GmbH are based on generally accepted and widely used methods of fundamental analysis, such as the ROIC (Return on Invested Capital) approach, the DCF (Discounted Cash Flow) model, peer group comparisons, NAV (Net Asset Value) valuations, sum-of-the-parts models, etc.
The rating system of LeanVal Invest GmbH comprises the action recommendations “Buy”, “Hold” and “Sell”. The rating of a share is based on the expected return for the next twelve to fifteen months. The expected return is composed of the forecast change in the share price and the expected dividend yield.
|Buy||Potential > +15%|
|Hold||Neither attractive nor unattractive|
|Sell||Potential > -15%|
In the financial analyses, circumstances or relationships that could give rise to conflicts of interest because they could jeopardize the impartiality – of the employees of LeanVal Research GmbH who prepared the analysis, – of LeanVal Research GmbH as the company responsible for the preparation or of companies affiliated with it, or – of other persons or companies working for LeanVal Research GmbH and contributing to the preparation must be disclosed. Information on interests or conflicts of interest that must be disclosed exists in particular if
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The analyses, if distributed in the United Kingdom, may only be made available to persons who are deemed to be authorized or exempt within the meaning of the Financial Services Act 1986, or persons as defined in Section 9 (3) of the Financial Services Act 1986 (lnvestment Advertisement) (Exemptions) Order 1988 (as amended), and may not be communicated, directly or indirectly, to any other person or class of persons. Neither the analyses nor copies thereof may be sent, brought or distributed into the United States of America, Canada or Japan or their respective territories or possessions, nor may they be distributed to a U.S. person within the meaning of the provisions of the U.S. Securities Act 1933 or to persons resident in Canada or Japan. Distribution of the analyses in other jurisdictions may be restricted by law, and persons into whose possession the analyses come should inform themselves about and comply with any restrictions. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. Reprinting, redistribution and publication of the analyses and their contents in whole or in part is only permitted with the prior written consent of LeanVal Research GmbH.
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+49 69 949488 050