17/03/21 11:08:11

Scale Market Report: Still in lofty heights

The scale segment was not able to continue the highs of the previous months. However, there were no major losses either. 


16 March 2021. FRANKFURT (Börse Frankfurt). With the rapid price development since last March, the Scale All Share index with shares of small and medium-sized companies has clearly set itself ahead of its big brothers DAX, MDAX and SDAX. Not only has the share price more than doubled since March 2020. There has also been a gain of over 40 percent compared to pre-Corona levels.

Although the rally has recently stalled somewhat, there can be no talk of a real correction. After reaching an all-time high of 1,777.97 points in mid-February, the Scale All Share is at 1,694 points on Tuesday morning. The selection index Scale 30 is now at 1,642 points after the record high of 1,789.21.

Many crisis profiteers ahead

Many individual stocks in the Scale segment have more than doubled in price since March 2020: despite recent price losses, The Naga Group (DE000A161NR7) remains the performance leader over twelve months. The share of the provider of naga.com, a social network for online retailers, is currently trading at 6.95 euros. A year ago, it was less than 1 euro. The company has undergone a tough restructuring and is currently benefiting from the boom in online trading.

Number two and three of the top performers continue to be the provider of streaming entertainment services for music, audio books, sports and movies Cliq Digital (DE000A0HHJR3) and the investment company Media and Games Invest (MT0000580101). In fourth to sixth place are eco-fund provider Ökoworld (DE0005408686), investment company Ernst Russ AG (DE000A161077), which specializes in ships, and IBU-tec advanced materials (DE000A0XYHT5), a service provider for thermal process engineering and a specialist in rotary kilns.

Buy tips for Naga and Media and Games

There is still plenty of upside in Naga shares, according to SMC Research. In response to the further acceleration of business development in February, the analysts have confirmed their buy recommendation, further raised estimates for 2021 and beyond, and now quote a price target of EUR 8.90 instead of EUR 7.30 (currently EUR 6.95).

The share of the investment company Media and Games Invest - specializing in the media and games industry - climbed from 1.44 euros at the end of November to a peak of 4.50 euros. Now it is 3.40 euros. Analysts such as GBC and First Berlin Equity expect prices to be well above the previous all-time high. GBC recently confirmed its price target of 5.15 euros, as well as its buy recommendation. An extensive growth pipeline and the purchase of the US game developer KingsIsle provided further dynamic growth. According to First Berlin, the 2020 results exceeded analyst expectations and also management guidance. They state a price target of 5.30 euros and also maintain their buy recommendation.

2G Energy: "Good start to 2021".

The share price of 2G Energy, a provider of combined heat and power plants, has more than tripled since last summer. However, the upward flight was somewhat bumpier, and after share price losses in the second half of the year, the share price recently fell again. In principle, however, the company is seen as a beneficiary of the climate change. The share is also well received by investors who want to invest sustainably.

In view of the price setback, First Berlin has upgraded 2G Energy again from "reduce" to "add". As a price target, the analysts call 104 euros (currently 93.10). The challenges posed by the pandemic were met very well by 2G overall, they say. Given the good start to 2021, the expected high demand for CHP (combined heat and power) plants both in Germany and internationally, the analysts confirm the forecast for 2021.

Further analyst recommendations for scale shares

Bank

Scale-CompanyAdvicePrice target in EuroCurrent price in Euro
GBCHelma EigenheimbauBuy77,2552,60
SMC-ResearchBlue CapBuy44,5023,70
SMC-ResearchDaldrup SöhneHold5,604,21
MontegaNynomicBuy45,0037,70
BankMDatronBuy11,609,25

 

by Anna-Maria Borse

© 18 March 2021, Deutsche Börse AG

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