First Berlin Equity Research has published a research update on MPH Health Care AG (ISIN: DE000A289V03). Analyst Ellis Acklin reiterated his BUY rating and maintained his EUR 67.00 price target.
Full year reporting reflected the mixed share price performance of the two listed holdings. CR Capital AG shares recorded a 10% annualised gain in 2021, while M1 Kliniken stock fell some 19% during the year. This led to a 4.4% Y/Y decline in the MPH NAVPS to €44.9, which edged lower to €44.0 at the end of Q1/22 on similar market developments. While the stock performance of M1 remains disappointing in the wake of macroeconomic uncertainties and continues to hurt the MPH’s NAV, operations at the Beauty specialist were still running well into Q1/22. CR Capital meanwhile is getting into the green-steel and solar businesses with its latest investments. Our rating remains Buy with an unchanged €67 price target.