Analyst coverage


None of the reports published on this homepage should be construed as a recommendation, offer or solicitation to acquire, or dispose of any shares of 2G Energy AG, they are for information purposes only. The reports are prepared for professional investors only and they are not intended for private investors. The authors do not accept any liability whatsoever for any direct or consequential loss arising from any use of material contained in these reports.


In addition to the reports listed below there are required research reports as the shares of 2G Energy AG are listed on the trading segment Scale, a part of the Open Market (Regulated Unofficial Market) on the Frankfurt Stock Exchange. These can be viewed here.

Analyst coverage

* available in German only

Date Institute Title & Recommendation
25.04.2022 First Berlin Equity Research

Well positioned for accelerated energy transition
Buy, Price target: 123.00 EUR

12.04.2022 First Berlin Equity Research

Is 2G immune to macroeconomic headwinds?
Buy, Price target: 123.00 EUR

11.04.2022 Pareto

A solution for the looming heat gap next winter
Buy, Price target: 145.00 EUR

04.04.2022 Metzler - Capital Markets

One of the few alternatives to the heat pump in the future
Buy, Price target: 134.00 EUR

04.04.2022 SMC Research

Increasing need for efficient power supply
Buy, Price target: 140.00 EUR*

02.03.2022 First Berlin Equity Research

High uncertainty on the natural gas market
Buy, Price target: 120.00 EUR

21.01.2022 Metzler - Capital Markets

Momentum in order intake remains very high
Buy, Price target: 123.00 EUR

21.01.2022 SMC Research

Strong demand leads to raising the Forecast for 2022
Buy, Price target: 123.00 EUR*

21.01.2022 First Berlin Equity Research

Sales guidance increased - upgrade to buy
Buy, Price target: 133.00 EUR

10.01.2022 Metzler - Capital Markets

The classification of gas power as green means tail wind
Buy, Price target: 123.00 EUR

22.11.2021 First Berlin Equity Research

Prospects for 2G remein excellent despite pandemic
Buy, Price target: 131.00 EUR

18.10.2021 First Berlin Equity Research

Record order backlog, but lower EBIT-guidance
Buy, Price target: 111.00 EUR

14.09.2021 First Berlin Equity Research

Supply chain bottlenecks drag total output
Buy, Price target: 111.00 EUR

08.09.2021 SMC Research

Solid growth - with a chance to accelerate
Buy, Price target: 101.00 EUR*

15.06.2021 SMC Research

Adoption as a reason to update the forecast
Hold, Price target: 95.60 EUR*

10.06.2021 First Berlin Equity Research

Guidance raised & complete acquisition of HJS Motoren
Buy, Price target: 109.00 EUR

19.05.2021 First Berlin Equity Research

New climate protection act good for 2G
Buy, Price target: 108.00 EUR

07.05.2021 Metzler - Capital Markets

Strong growth in demand in other European countries and America
Buy, Price target: 122.00 EUR

05.05.2021 SMC Research

Strong start to the year
Buy, Price target: 102.60 EUR*

05.05.2021 First Berlin Equity Research

Outlook for CHP remains excellent
Buy, Price target: 108.00 EUR

31.03.2021 SMC Research

The positive trend is likely to continue
Buy, Price target: 95.80 EUR*

29.03.2021 First Berlin Equity Research

Counting on growth path - update to buy
Buy, Price target: 104.00 EUR

01.03.2021 First Berlin Equity Research

Growth despite pandemic
Buy, Price target: 104.00 EUR

04.02.2021 Metzler - Capital Markets

CHP is an integral part of the Energiewende
Buy, Price target: 122.00 EUR

01.02.2021 SMC Research

Large number of final accounts enables solid growth
Hold, Price target: 93.60 EUR*

29.01.2021 First Berlin Equity Research

€5M from capital increase
ADD, Price target: 103.00 EUR

23.11.2020 First Berlin Equity Research

Strong Q3 - Upgrade to add
ADD, Price target: 90.00 EUR

19.11.2020 SMC Research

Dynamic development with small uncertainty factor
Hold, Price target: 78.50 EUR*

15.09.2020 First Berlin Equity Research

Energy Transition as a medium-term Driver of growth
Reduce, Price target: 70.00 EUR

14.09.2020 SMC Research

Only moderate delays – forecast confirmed
Hold, Price target: 76.60 EUR*

08.06.2020 Pareto

Roadshow feedback - growth story should continue
Buy, Price target: 57.00 EUR

08.06.2020 SMC Research

Well on track to achieve the annual goals
Buy, Price target: 58.70 EUR*

29.05.2020 First Berlin Equity Research

High April order intake despite the pandemic
ADD, Price target: 52.00 EUR

14.05.2020 Edison Investment Research

Market and balance sheet resilience
CHP also needed in times of pandemic and recession

11.05.2020 First Berlin Equity Research

CHP also needed in times of pandemic and recession
ADD, price target 50.00 EUR

07.04.2020 SMC Research

Business development robust despite Corona
Buy, price target: 53,50 €*

06.04.2020 First Berlin Equity Research

Well prepared for rescession - upgrade to buy
Buy, price target: 50,00 EUR

28.02.2020 First Berlin Equity Research

Excellent business environment - upgrade to add
ADD, target price: 51.00 EUR

28.02.2020 SMC Research

Strong results
Buy, target price: 55.00 EUR*

20.01.2020 First Berlin Equity Research

2020 should bring further growth
Reduce, target price: 51.00 EUR

20.01.2020 SMC Research

Reviving order intake as another Proof of great growth opportunities
Hold, Price target 52,90 EUR*

03.12.2019 First Berlin Equity Research

Energy transition winner - price target increaded
Buy, target price: 48.00 EUR

03.12.2019 SMC Research

Dynamic development will continue in 2020
Hold, target price: 40.70 EUR*

04.10.2019 Edison Investment Research EBIT almost trebles in H119
01.10.2019 First Berlin Equity Research

H1 convincing in every way
Buy, target price: 39.00 EUR

30.09.2019 SMC Research

Annual goals easily accessible
Hold, target price: 38.50 EUR*

30.09.2019 Pareto

Very solid quarter, guidance confirmed
Buy, target price: 39.00 EUR

03.06.2019 First Berlin Equity Research

Strong sales growth and significantly higher EBIT
ADD, price target: 38.00 EUR

03.06.2019 SMC Research

Good basis for a strong year
Hold, target price: 38.00 EUR*

29.05.2019 Pareto

Results ahead of our estimates
Buy, target price: 39.00 EUR*

20.05.2019 Edison Investment Research Enabling the energy revolution
14.05.2019 First Berlin Equity Research

Successful in 2018, more successful in 2019E
ADD, price target: 38.00 EUR

14.05.2019 SMC Research

Good market conditions offer special growth opportunities
Buy, target price: 37.40 EUR*

17.04.2019 First Berlin Equity Research

Pleasingly strong EBIT margin
ADD, price target: 38.00 EUR

12.04.2019 Pareto

Markets remain supportive, management takes right steps
Buy, Price target: 39.00 EUR

12.04.2019 SMC Research

Great profitability progress
Buy, Price target: 37.20 EUR*

06.03.2019 First Berlin Equity Research

Record Sales in 2018 and increased guidance
ADD, price target: 33.00 EUR

29.01.2019 SMC Research

High order backlog as a good basis for 2019
Buy, Price target: 30.40 EUR*

11.12.2018 Pareto

Strong operational performance continues
Buy, Price target: 24.00 EUR

04.12.2018 SMC Research

Outlook is a little more confident
Buy, Price target: 30.40 €*

03.12.2018 First Berlin Equity Research

Profitable growth also in 2019 – price target increased
Buy, Price target: 30.00 €

04.10.2018 Edison Investment Research Positive result for first half
02.10.2018 First Berlin Equity Research

Profitable growth in H1
Buy, price target: 29.00 €

01.10.2018 SMC Research

Growth and margin trend points upwards
Buy, price target: 29.60 €*

04.06.2018 SMC Research

Clear sign of dynamisation and efficiency improvement
Buy, Price target: 29.00 €*

04.06.2018 First Berlin Equity Research

Sales growth and positive EBIT
Buy, Price target: 28.00 €

30.05.2018 Edison Investment Research Export growth drives record sales in FY17
25.05.2018 First Berlin Equity Research

Further sales and margin growth expected
Buy, Price target: 28.00 €

27.04.2018 First Berlin Equity Research

Raising price target and forecasts
Buy, Price target: 27.30 €

14.03.2018 First Berlin Equity Research

Higher revenues and EBIT margin
Buy, Price target: 24.50 €

01.03.2018 First Berlin Equity Research

On the way to becoming a global provider of CHP-solutions
Buy, Price target: 24.00 €*

28.02.2018 SMC Research

Sales target achieved in 2017 - Management optimistic for 2018
Buy, Price target: 27.00 €*

We would also like to inform you about the opinions of other analysts, but we cannot provide any studies on this.

30.04.2018 equinet Bank AG

Positive outlook for FY 2018e

Accumulate: 23.50 EUR

21.02.2017 equinet Bank AG

Strong order momentum

Buy, Price target: 28.50 EUR

17.05.2016 equinet Bank AG

Profitable growth not yet reflected in valuation levels

Buy, Price target: 24.00 EUR

25.04.2016 Hauck & Aufhäuser

Sound Q4 results, positive 2016 guidance

Buy, Price target: 22.00 EUR

11.02.2016 equinet Bank AG

Much stronger than expected order backlog / order intake in Q4 15 provide tailwinds for EBIT 16e-doubling

Buy, Price target: 24.00 EUR

22.01.2016 Solventis Wertpapierhandelsbank Research

New KWKG provides tailwind

Buy, Price target: 30.00 EUR

01.12.2015 Hauck & Aufhäuser

Weak Q3 as expected; bottom-line slightly better; chg est. & PT

Hold, Price target 19.00 EUR

30.11.2015 equinet Bank AG

Solid 9m 15 results, EBIT turned positive in Q3, outlook confirmed

Buy, Price target 24.00 EUR

25.09.2015 equinet Bank AG

Looking beyond transitional 2015

Buy, Price target: 24.00 EUR

24.09.2015 Hauck & Aufhäuser 

Hefty profit warning

Hold, Price target: 15.50 EUR

08.06.2015 Solventis Wertpapierhandelsbank Research

Political tailwind: CHP technology will be funded more strongly

Buy, Price target: 35.00 EUR

28.05.2015 Hauck & Aufhäuser

Decent Q1 results improve visibility

Buy, Price target: 26.00 EUR

10.04.2015 Solventis Wertpapierhandelsbank Research

Successful transformation from bio gas to natural gas – BHKWs discovered by industry – US business faces growth spurt

Buy, Price target: 35.00 EUR

23.01.2015 Hauck & Aufhäuser

2014 guidance confirmed, first take on 2015

Buy, Price target: 24.00 EUR