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Schaeffler: discount is reduced

Car demand will be severely affected due to the pandemic. A minus of 20 percent could be possible. This also affects the suppliers. In the first quarter, sales at Schaeffler were reduced by 9.4 percent. The margin is also falling, from 7.5 percent to 6.5 percent. The second quarter should see even clearer declines.

DZ Bank analysts expect sales to decline by 37 percent in the current quarter. They now believe that earnings per share of EUR 0.13 (old: EUR 0.63) are likely in 2020. The forecast for 2021 drops from 0.94 euros to 0.79 euros.

As before, the analysts issued a recommendation to hold Schaeffler shares. The target price increases from EUR 5.50 to EUR 7.50.

So far, there was a corona discount of 20 percent in the model of the experts. This is reduced to 10 percent in the current model. This takes into account the beginning loosening.

Schaeffler shares today gain 4.7 percent to EUR 7,335.

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