March 17th, 2022 | 12:45 CET
RWE, Kleos Space, TeamViewer - Powerful rebound
The Ukraine conflict still dominates the markets around the globe. However, most indices have been playing a de-escalation scenario in recent days. The DAX has already made up more than 2,000 points since its low. In contrast, precious metals such as gold and silver are losing massively, and the oil markets are reducing the exaggeration, at least in the short term. In terms of individual stocks, it is mainly the hard-hit banks and financial services companies performing well. In contrast, there are still attractive opportunities in various technology stocks.
time to read: 3 minutes | Author: Stefan Feulner
ISIN: RWE AG INH O.N. | DE0007037129 , KLEOS SPACE CDI/1/1 | AU0000015588 , TEAMVIEWER AG INH O.N. | DE000A2YN900
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Author
Stefan Feulner
The native Franconian has more than 20 years of stock exchange experience and a broadly diversified network.
He is passionate about analyzing a wide variety of business models and investigating new trends.
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About to take off
In the case of Data-as-a-Service company Kleos Space, the value of the share was depressed not only by the overall negative market as a result of the Ukraine crisis but also by the aborted launch in January of its third cluster which was to consist of four satellites. This year alone, the share price has corrected by almost 30% to EUR 0.35. Since its peak in July of last year, this means a decline by half of the stock market value, which currently stands at EUR 57.47 million. However, with the launch in April, Kleos Patrol Mission (KSF2) satellites will be reprogrammed for another run-up with the SpaceX Transporter-4 mission. The goal of the mission is to significantly increase data collection capacity. A fourth cluster is planned for as early as the middle of the current year.
Analyst firm First Berlin recently published a research update on Kleos Space, assigning a "buy" rating with a price target of AUD 2.60, the equivalent of EUR 1.71. In relation to the current share price, this would mean a fivefold increase. The analysts at Petra Capital are also optimistic with a target price of AUD 1.25, which at EUR 0.82 would be more than a doubling.
Hook under TeamViewer
With the publication of the annual report that brought the Goeppingen-based company back down to earth after the successful 2020, the full year 2021 was finally closed. There were no further surprises after the annual forecasts had been capped twice. The consolidated result slumped by more than half, from EUR 103 million to EUR 50 million, partly due to the high-dollar advertising contracts with the English soccer club Manchester United and with the Mercedes Formula 1 racing team. The weak performance naturally also impacts the total compensation of CEO Oliver Steil. So, after EUR 72.9 million in 2020, the TeamViewer boss earned "only" EUR 22.1 million, which is still likely to be one of the top salaries in the management scene in Germany.
As written in the annual report, growth plans for 2022 have been defined. TeamViewer expects 2022 billings in the range of EUR 630 to 650 million and an adjusted EBITDA margin between 45% and 47%. A first insight into the development of TeamViewer's business should be provided by the figures for the first quarter, which are expected in early May. After the countermovement at the beginning of the year, the stock recovered to the EUR 16.50 area but fell again towards last year's lows due to the general negative market environment. The indicators are also turning negative, so it is not unlikely that the share will once again establish a low below the EUR 10.71 level. Invested investors are advised to hedge their positions above this level.
Targets achieved
In addition to TeamViewer, energy group RWE also published its final figures for the full year 2021. The Essen-based company increased its adjusted earnings before interest, taxes, depreciation and amortization, EBITDA, from EUR 3.29 billion to EUR 3.65 billion. Adjusted EBIT rose from EUR 1.82 billion to EUR 2.19 billion, while net profit came to EUR 1.57 billion.
For the current fiscal year, the DAX-listed group sees uncertainties regarding the Ukraine conflict but expects to be able to match the operating result of 2021. On Tuesday, RWE confirmed the forecast it had raised in mid-February. However, this does not include the "difficult to estimate" consequences of the Ukraine war, the DAX group announced on Tuesday when presenting its final business figures for 2021 in Essen.
The US investment bank Goldman Sachs continues to view RWE shares positively and left the Company on its "Conviction Buy List". Only the price target was lowered from EUR 54.50 to EUR 53.
After the sharp sell-off on the capital markets, there was a strong countermovement in the past few days, which pushed the DAX up more than 2,000 points. In the technology sector, there are still attractive long-term entry opportunities for Kleos Space. At TeamViewer, various indicators are turning down again. RWE could offer a trading opportunity in the event of a setback to the EUR 35 area.
Conflict of interest
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