First Berlin Equity Research has published a research update on Knaus Tabbert AG (ISIN: DE000A2YN504). Analyst Ellis Acklin reiterated his BUY rating and maintained his EUR 69.00 price target.

Abstract
We attended the 2024 Caravan Salon to get a first-hand look at the latest RVs, take the pulse of consumers, and meet with KTA brass. Attendance again topped a quarter million, and 16 exhibition halls showcased 778 exhibitors. We saw no signs that demand is flagging. The highlight of our trip was a peek behind the curtain of KTA’s much anticipated new brand, Xperian. KTA’s vision for Xperian is that it should be more than just a fresh line of futuristic RVs; it will also aim to create a whole new customer journey spearheaded by a reimagined distribution platform. KTA remains hushed on details pending the formal launch of the brand in January, but management were decidedly upbeat about Xperian’s prospects as well as the overall state of the RV industry. We expect Xperian will reinvigorate the RV maker’s investor base and remain Buy-rated on KTA with a €69 TP.