First Berlin Equity Research Reiterates Buy Rating for Knaus Tabbert AG

First Berlin Equity Research GmbH has updated its evaluation of Knaus Tabbert AG (ISIN: DE000A2YN504), reiterating a BUY rating. The target price remains €86, with an outlook of 12 months. Analyst Ellis Acklin remains confident, maintaining the same recommendation since the last assessment.

Amidst the Q2 earnings season, attention turns to various companies under coverage. Knaus Tabbert's shares have seen pressure following the release of rival Trigano's Q3 results, which raised concerns about declining end RV demand. However, May's CIVD registration numbers show demand is still growing, albeit at a slower pace than during the pandemic peak.

Checks confirm that Knaus Tabbert’s new orders match expectations, with Q2 backlog projected to exceed €0.5 billion (Q1: €0.6 billion). Recent market scepticism seems to stem from investors adjusting to normalised post-pandemic conditions, which contrasts with the exceptional results seen during the pandemic. The firm remains committed to its Buy rating and the €86 price target.