Analyst Coverage
as of February 23, 2021

Broker Analyst Recommendation Price Target
AlphaValue Martin Schnee Sell CHF 518.00
Baader Helvea Bruno Bulic Add CHF 603.00
Bank Vontobel Sibylle Bischofberger Hold CHF 665.00
Bank of America Patrick Wood Neutral CHF 610.00
Berenberg Bank Xian Deng Buy CHF 690.00
Citigroup Thomas Wrigglesworth Neutral CHF 624.00
Credit Suisse Matthew Weston Outperform CHF 670.00
Deutsche Bank Falko Friedrichs Buy CHF 680.00
Equita Massimo Bonisoli Buy CHF 665.00
Goldman Sachs Krishna Chaitanya Arikatla Neutral CHF 565.00
J.P. Morgan Cazenove Richard Vosser Overweight CHF 680.00
Jefferies Peter Welford Buy CHF 665.00
Kepler Cheuvreux Dariusz Ubik Hold CHF 538.00
KeyBanc Capital Markets Paul Knight Marketweight CHF -
Mirabaud Securities Daniel Jelovcan Buy CHF 777.00
Morgan Stanley James Quigley Overweight CHF 645.00
New Street Research Naresh Chouhan Buy CHF 620.00
Octavian Tanya Hansalik Hold CHF 570.00
Société Générale Justin Smith Buy CHF 705.00
Stifel Markus Gola Hold CHF 610.00
UBS Patrick Rafaisz Neutral CHF 610.00
William Blair John Kreger Outperform CHF -
ZKB Zürcher Kantonalbank Daniel Buchta Overweight CHF -
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This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.