VARTA AG

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● Analysts expect a sharply increasing business volume for the group, with high growth rates in the coming years.

● The company returns high margins, thereby supporting business profitability.

● The company is in a robust financial situation considering its net cash and margin position.

● Over the past year, analysts have regularly revised upwards their sales forecast for the company.

● For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.

● The stock is in a well-established, long-term rising trend above the technical support level at 94.85 EUR

● Prospects from analysts covering the stock are not consistent. Such dispersed sales estimates confirm the poor visibility into the group's activity.

● The company's enterprise value to sales, at 6.3 times its current sales, is high.

● The company benefits from high valuations in earnings multiples.

● Most analysts recommend that the stock should be sold or reduced.

● The appreciation potential seems limited due to the average target prices set by the analysts covering the stock.