Analyst recommendations

(dated: May 2, 2012)

Institut Analyst Recommendation Date
 
Bankhaus Lampe Leslie Iltgen Buy November 2011
Berenberg Bank Scott Bardo Buy April 2012
CA Cheuvreux Oliver Reinberg Outperform February 2012
CBS Research Igor Kim Buy February 2012
Commerzbank Yasmin Moschitz Buy April 2012
Deutsche Bank Gunnar Romer Buy April 2012
DZ Bank Michael Bissinger Buy February 2012
Equinet Edouard Aubery Accumulate January 2012
HSBC Jan Keppeler Neutral Mai 2012
LBBW Volker Stoll Buy April 2012
M.M. Warburg Eggert Kuls Buy April 2012
NORD/LB Holger Fechner Buy November 2011
Silvia Quandt & Cie Stefan Muehlbauer Buy November 2011
WestLB Oliver Kämmerer Neutral April 2012


To the best of our knowledge, the list includes the main sell-side analysts who rate Dräger. Dräger cannot guarantee that the information provided includes all of the reports by market analysts.

The opinions, predictions, estimates and forecasts expressed by the analysts in the list regarding Dräger’s performance only reflect the views of these analysts and do not represent the opinions, predictions, estimates and forecasts of Dräger or the general partner, Drägerwerk AG & Co. KGaA. The fact that Dräger has published the names of the analysts does not mean that the Company endorses or agrees with their reports, conclusions or recommendations. Dräger does not accept any liability for the accuracy of the presentation.

This list is purely for information purposes and is not an invitation to buy, hold or sell securities.