Deutsche Bank Research stuft Flatexdegiro auf 'Buy'

Deutsche Bank Research has raised its price target for Flatexdegiro to €46 from €43 and maintained a “Buy” rating on the online broker. Analyst Olivia Pulvermacher issued the updated assessment in a research note made available on Monday, as reported by dpa-AFX Analyser.

The key driver behind the more positive view is Germany’s pension reform, which Pulvermacher expects to benefit Flatexdegiro’s business from next year. According to the analyst, the reform is likely to help the broker in several ways: it should support growth in the customer base, increase assets under management, and generate additional fee income. The note thus frames the pension changes as a meaningful growth catalyst for the platform.

Beyond the direct effects of the reform, Pulvermacher pointed to what she called the larger structural opportunities for Flatexdegiro. These include a broader acceptance of direct brokerage among private investors, a stronger shift of long-term savings toward online brokers, and higher platform engagement as new customers gradually become more active participants in the capital markets. The combination of these trends, in her view, could reinforce the company’s growth trajectory over time.

Deutsche Bank’s target increase from €43 to €46 reflects continued confidence in Flatexdegiro’s prospects after the bank had already positioned the stock with a Buy recommendation. The original research report did not state a publication date, according to the accompanying disclosure, although the note was first distributed during the morning. Flatexdegiro is listed in Frankfurt under ISIN DE000FTG1111.