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Aurubis: Double upgrade of the share

In the second quarter, sales at Aurubis rose by 8 percent to EUR 3.3 billion. Operating EBIT drops 3 percent to EUR 62 million. Despite the pandemic, the forecast for the current financial year is confirmed. An operating pre-tax profit of EUR 185 million to EUR 250 million is expected. After the first half of the year, Aurubis comes to 91 million euros. A share buyback program with a volume of EUR 200 million is to be continued.

Nord LB analysts upgrade Aurubis shares from “hold” to “buy”. The target price increases from 50.00 euros to 62.00 euros. The global economic stimulus programs can provide impetus at Aurubis. Therefore the rating increases.

The experts speak of surprisingly stable quarterly figures. In their view, the acquisition of Metallo is an important building block for future growth. Further takeovers could open up new foreign markets. New recycling locations are of particular interest.

Aurubis shares today gained 0.6 percent to EUR 56.06.

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