The analysts of Pareto Securities rate the figures of Grenke for the fourth quarter as weak. In new leasing business, there is a clear drop of 44 percent. Overall, the numbers are somewhat below Grenke’s expectations. A minus of around 40 percent was expected.
However, the lockdown in many countries, which affected business in November and December, must be taken into account here. Therefore, the experts do not see this aspect as particularly negative or surprising. Grenke had published his forecast in October when the latest wave and its consequences were not foreseeable in the form. There was no update as a result.
The experts stick to the hold recommendation for the shares of Grenke. The price target remains at EUR 36.00.
There will also be lockdowns in many countries in the first half of 2021. That makes Grenke’s business more difficult, the challenges remain.
The shares of Grenke lose 3.5 percent in the afternoon to 36.02 euros.