Trading Volume and Analysts

In the reporting year, the average daily trading volume on the Xetra, Chi-X and Turquoise trading platforms for WACKER stock was approximately 197,000 shares. This was at the level of the prior-year figure of around 200,000 shares. In 2015, numerous banks changed their analysts. As a result, a new group of analysts will be covering WACKER in the future. In total, though, their number remained unchanged at 21 in 2015 (2014: 21). During the year, analysts’ consensus price target for WACKER stock rose. In Q1, the average price target for WACKER stock was € 107.36 (13 estimates)1. At year-end 2015, though, analysts set their fair-value price target at € 86.46 on average (13 estimates)1, which was 19 percent lower than at the start of the year.

Banks and Investment Firms Covering and Rating WACKER


As of the end of December 2015

Bankhaus Lampe KG


J. P. Morgan Cazenove Ltd

Bank of America Merrill Lynch (UK)


Kepler Chevreux

Citi Investment Research


Landesbank Baden-Württemberg

Commerzbank Corporates & Markets


Macquarie Capital (Europe) Ltd.

Credit Suisse Securities (Europe) Ltd.


Metzler Equity Research

Deutsche Bank AG


Morgan Stanley & Co. International Ltd.

DZ Bank AG


Natureo Finance

Exane BNP Paribas


Norddeutsche Landesbank Girozentrale

fairesearch GmbH & Co. KG


SG Securities

Hauck & Aufhäuser Institutional Research AG


UBS Ltd.

HSBC Trinkaus & Burkhardt AG


Warburg Research GmbH

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 2015. 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 14, 2015 /Q3 = November 13, 2015)