Trading Volume and Analysts

In 2014, the average daily trading volume for WACKER stock on the Xetra, Chi-X and Turquoise trading platforms was approximately 200,000 shares – nearly 7 percent above the prior-year figure of around 190,000 shares. Bank restructuring and high analyst turnover led to an overall decline in the number of analysts covering our company, their number dropping to 21 in 2014 (2013: 23). During the year, the analysts’ consensus price target for WACKER stock rose. In Q1, the average price target for WACKER stock was € 92.27 (15 estimates). At year-end 2014, however, analysts set their fair-value price target at € 101 on average (13 estimates)1, which was thus higher than at the start of the year.

The Following Banks and Investment Firms Cover and Rate WACKER


As of the end of December 2014

Bankhaus Lampe KG


J. P. Morgan Cazenove Ltd.

Bank of America Merrill Lynch (UK)


Landesbank Baden-Württemberg

Citi Investment Research


Macquarie Capital (Europe) Ltd.

Commerzbank Corporates & Markets


MainFirst Bank AG

Credit Suisse Securities (Europe) Ltd.


Metzler Equity Research

Deutsche Bank AG


Morgan Stanley & Co. International Ltd.

DZ Bank AG


Natureo Finance Investment Research

fairesearch GmbH & Co. KG


Nomura International Plc.

Hauck & Aufhäuser Institutional Research AG


Norddeutsche Landesbank Girozentrale

HSBC Trinkaus & Burkhardt AG


UBS Ltd.

Independent Research GmbH



On our website, we regularly report on the consensus of analysts’ expectations for the current year. Moreover, our website offers extensive information on WACKER stock. In addition to financial reports, a Fact Book, presentations and publications (viewable online or downloadable), our website lists all our key financial-calendar dates, with contact information if you have any questions. Videos of our annual press conference and other events are also available for online viewing, or as an audio stream. Investors can additionally subscribe to an email newsletter that provides immediate updates on new developments in the Group. As we did last year, we are also offering an online version of our Annual Report for 2014. The easy-to-navigate online version facilitates access to information. Moreover, its interactive options, such as key-indicator comparisons and a toolbox, enable readers to work directly with the figures.

1 Consensus figures from VARA Research (Q1 = April 15, 2014 / Q3 = Nov. 19, 2014)