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Investing.com - Deutsche Boerse AG (DB1:GR) (OTC:DBOEY) delivered solid third-quarter 2025 results, with performance modestly exceeding analyst expectations despite continued pressure from treasury results.
The German exchange operator reported net revenue growth of 3% year-over-year, with revenues excluding treasury results growing by 7% year-over-year. Treasury results declined 19% year-over-year, though this was less severe than market fears.
Cost management contributed to the positive performance, with expenses coming in 2% below expectations. These factors combined to produce EBITDA and EPS results that beat consensus estimates by 4% and 5%, respectively.
Deutsche Boerse reiterated its full-year 2025 guidance, in line with market expectations. The company is currently trading at 18.3x 2026 estimated EPS and 12x EV/EBITDA.
Deutsche Bank analyst Benjamin Goy maintained a Buy rating on Deutsche Boerse with a price target of EUR291.00, noting that the Q3 results "put an end to the recent negative earnings trends" and set the stage for the company’s December Capital Markets Day.
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