Independent Research Analyst Recommendations & Stock Picks

Name: Community Performance Rating
Item: Independent Research
Rating: 2.6
Author: MarketBeat

View the latest stock recommendations issued by analysts at Independent Research. This page tracks publicly reported analyst upgrades and downgrades, buy/hold/sell ratings, and price target changes for publicly traded companies. All data is compiled from credible public sources and updated regularly to reflect new insights from Independent Research's equity research team. MarketBeat is not affiliated with or endorsed by Independent Research.

1 Analyst
Updated 12/17/2025

Brokerage Ranking: Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating MarketBeat
Average Return: 00.00% 12-Month ROI
Total Ratings: 5 Last 12 Months
Buy Ratings: 0 Last 12 Months
Sell Ratings: 0 Last 12 Months
Companies Covered: 4 Last 12 Months

Company	Current Price	Report Date	Analyst	Action	Price Target	Rating	Details
INDB Independent Bank	$78.52 +0.4%	12/17/2025		Set Price Target	$80.00		View details for Independent Research rating of Independent Bank (NASDAQ:INDB) on 12/17/2025
INTU Intuit	$389.21 -4.3%	11/18/2025		Set Price Target	$875.00		View details for Independent Research rating of Intuit (NASDAQ:INTU) on 11/18/2025
INDB Independent Bank	$78.52 +0.4%	10/21/2025		Set Price Target	$83.00		View details for Independent Research rating of Independent Bank (NASDAQ:INDB) on 10/21/2025
NTSK Netskope	$10.89 -4.5%	10/13/2025		Set Price Target	$27.00		View details for Independent Research rating of Netskope (NASDAQ:NTSK) on 10/13/2025
PFE Pfizer	$25.87 -2.3%	11/11/2021	Tobias Gottschalt Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade	$53.00	Buy	View details for Independent Research rating of Pfizer (NYSE:PFE) on 11/11/2021
KCO Klöckner & Co SE	€12.52 -0.6%	5/4/2021		Set Price Target	€11.50	Neutral	View details for Independent Research rating of Klöckner & Co SE (ETR:KCO) on 5/4/2021
SHL Siemens Healthineers	€33.93 -4.7%	5/4/2021		Set Price Target	€51.00	Neutral	View details for Independent Research rating of Siemens Healthineers (ETR:SHL) on 5/4/2021
VOS Vossloh	€78.05 +0.4%	5/4/2021		Set Price Target	€49.00	Buy	View details for Independent Research rating of Vossloh (ETR:VOS) on 5/4/2021
WCH Wacker Chemie	€93.65 -0.3%	5/4/2021		Set Price Target	€133.00	Neutral	View details for Independent Research rating of Wacker Chemie (ETR:WCH) on 5/4/2021
LHA Deutsche Lufthansa	€8.37 +1.8%	5/3/2021		Set Price Target	€9.90	Sell	View details for Independent Research rating of Deutsche Lufthansa (ETR:LHA) on 5/3/2021
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MTX MTU Aero Engines	€317.40 +0.8%	5/3/2021		Set Price Target	€199.00	Sell	View details for Independent Research rating of MTU Aero Engines (ETR:MTX) on 5/3/2021
PUM Puma	€25.26 +1.5%	4/30/2021		Set Price Target	€94.00	Neutral	View details for Independent Research rating of Puma (ETR:PUM) on 4/30/2021
BAS Basf	€50.91 -3.1%	4/29/2021		Set Price Target	€74.00	Neutral	View details for Independent Research rating of Basf (ETR:BAS) on 4/29/2021
DHER Delivery Hero	€20.21 -2.6%	4/29/2021		Set Price Target	€150.00	Neutral	View details for Independent Research rating of Delivery Hero (ETR:DHER) on 4/29/2021
DWS DWS Group GmbH & Co. KGaA	€60.30 +0.4%	4/29/2021		Set Price Target	€40.00	Buy	View details for Independent Research rating of DWS Group GmbH & Co. KGaA (ETR:DWS) on 4/29/2021
SY1 Symrise	€73.76 -1.2%	4/29/2021		Set Price Target	€96.00	Sell	View details for Independent Research rating of Symrise (ETR:SY1) on 4/29/2021
1COV Covestro	€60.00	4/28/2021		Set Price Target	€64.00	Buy	View details for Independent Research rating of Covestro (ETR:1COV) on 4/28/2021
SAP SAP	€151.38 +1.4%	4/27/2021		Set Price Target	€140.00	Buy	View details for Independent Research rating of SAP (ETR:SAP) on 4/27/2021
DAI Daimler	€63.08	4/26/2021		Set Price Target	€88.00	Buy	View details for Independent Research rating of Daimler (ETR:DAI) on 4/26/2021
SZG Salzgitter	€51.00 -1.4%	4/26/2021		Set Price Target	€28.00	Neutral	View details for Independent Research rating of Salzgitter (ETR:SZG) on 4/26/2021
SZU Südzucker	€11.74 -2.5%	4/26/2021		Set Price Target	€14.00	Neutral	View details for Independent Research rating of Südzucker (ETR:SZU) on 4/26/2021
DB1 Deutsche Börse	€247.10 -2.1%	4/23/2021		Set Price Target	€155.00	Neutral	View details for Independent Research rating of Deutsche Börse (ETR:DB1) on 4/23/2021
ARL Aareal Bank	€33.20	4/22/2021		Set Price Target	€19.00	Sell	View details for Independent Research rating of Aareal Bank (ETR:ARL) on 4/22/2021
B4B3 Metro	€5.00	4/22/2021		Set Price Target	€8.10	Sell	View details for Independent Research rating of Metro (ETR:B4B3) on 4/22/2021
RHM Rheinmetall	€1,341.60 -6.9%	4/21/2021		Set Price Target	€101.00	Buy	View details for Independent Research rating of Rheinmetall (ETR:RHM) on 4/21/2021
ZAL Zalando	€20.28 -0.8%	4/21/2021		Set Price Target	€112.00	Buy	View details for Independent Research rating of Zalando (ETR:ZAL) on 4/21/2021
ZIL2 ElringKlinger	€5.92 +8.0%	4/21/2021		Set Price Target	€13.20	Sell	View details for Independent Research rating of ElringKlinger (ETR:ZIL2) on 4/21/2021
AFX Carl Zeiss Meditec	€25.68 -2.2%	4/20/2021		Set Price Target	€97.00	Sell	View details for Independent Research rating of Carl Zeiss Meditec (ETR:AFX) on 4/20/2021
BMW Bayerische Motoren Werke Aktiengesellschaft	€82.36 +1.2%	4/20/2021		Set Price Target	€93.00	Neutral	View details for Independent Research rating of Bayerische Motoren Werke Aktiengesellschaft (ETR:BMW) on 4/20/2021
DAI Daimler	€63.08	4/19/2021		Set Price Target	€88.00	Buy	View details for Independent Research rating of Daimler (ETR:DAI) on 4/19/2021
PFV Pfeiffer Vacuum Technology	€167.80 -0.1%	4/19/2021		Set Price Target	€150.00	Sell	View details for Independent Research rating of Pfeiffer Vacuum Technology (ETR:PFV) on 4/19/2021
VOW3 Volkswagen	€88.08 +0.0%	4/19/2021		Set Price Target	€272.00	Buy	View details for Independent Research rating of Volkswagen (ETR:VOW3) on 4/19/2021
DRW3 Drägerwerk AG & Co. KGaA	€91.00 +0.9%	4/16/2021		Set Price Target	€78.00	Neutral	View details for Independent Research rating of Drägerwerk AG & Co. KGaA (ETR:DRW3) on 4/16/2021
HEI Heidelberg Materials	€188.00 -0.6%	4/16/2021		Set Price Target	€82.00	Neutral	View details for Independent Research rating of Heidelberg Materials (ETR:HEI) on 4/16/2021
SAP SAP	€151.38 +1.4%	4/15/2021		Set Price Target	€130.00	Buy	View details for Independent Research rating of SAP (ETR:SAP) on 4/15/2021
WCH Wacker Chemie	€93.65 -0.3%	4/15/2021		Set Price Target	€130.00	Neutral	View details for Independent Research rating of Wacker Chemie (ETR:WCH) on 4/15/2021
1COV Covestro	€60.00	4/14/2021		Set Price Target	€68.00	Buy	View details for Independent Research rating of Covestro (ETR:1COV) on 4/14/2021
DEQ Deutsche EuroShop	€19.88 -0.4%	4/14/2021		Set Price Target	€15.00	Sell	View details for Independent Research rating of Deutsche EuroShop (ETR:DEQ) on 4/14/2021
BMW Bayerische Motoren Werke Aktiengesellschaft	€82.36 +1.2%	4/13/2021		Set Price Target	€92.00	Neutral	View details for Independent Research rating of Bayerische Motoren Werke Aktiengesellschaft (ETR:BMW) on 4/13/2021
DAI Daimler	€63.08	4/13/2021		Set Price Target	€86.00	Buy	View details for Independent Research rating of Daimler (ETR:DAI) on 4/13/2021

DPW Ault Global	€0.21	4/12/2021		Set Price Target	€53.00	Buy	View details for Independent Research rating of Ault Global (NYSEAMERICAN:DPW) on 4/12/2021
GXI Gerresheimer	€26.58 +2.9%	4/9/2021		Set Price Target	€82.00	Sell	View details for Independent Research rating of Gerresheimer (ETR:GXI) on 4/9/2021
KRN Krones	€128.20	4/9/2021		Set Price Target	€73.00	Neutral	View details for Independent Research rating of Krones (ETR:KRN) on 4/9/2021
ARL Aareal Bank	€33.20	4/7/2021		Set Price Target	€19.00	Sell	View details for Independent Research rating of Aareal Bank (ETR:ARL) on 4/7/2021
HEI Heidelberg Materials	€188.00 -0.6%	4/7/2021		Set Price Target	€81.00	Neutral	View details for Independent Research rating of Heidelberg Materials (ETR:HEI) on 4/7/2021
LIN Linde	€421.60 -1.4%	4/7/2021		Set Price Target	€240.00	Neutral	View details for Independent Research rating of Linde (ETR:LIN) on 4/7/2021
PFV Pfeiffer Vacuum Technology	€167.80 -0.1%	4/7/2021		Set Price Target	€140.00	Sell	View details for Independent Research rating of Pfeiffer Vacuum Technology (ETR:PFV) on 4/7/2021
HHFA Hamburger Hafen und Logistik Aktiengesellschaft	€21.60	4/6/2021		Set Price Target	€20.50	Neutral	View details for Independent Research rating of Hamburger Hafen und Logistik Aktiengesellschaft (ETR:HHFA) on 4/6/2021
INH INDUS	€32.95 +2.3%	4/6/2021		Set Price Target	€42.00	Buy	View details for Independent Research rating of INDUS (ETR:INH) on 4/6/2021
ZIL2 ElringKlinger	€5.92 +8.0%	4/6/2021		Set Price Target	€12.00	Sell	View details for Independent Research rating of ElringKlinger (ETR:ZIL2) on 4/6/2021
ARL Aareal Bank	€33.20	4/1/2021		Set Price Target	€19.00	Sell	View details for Independent Research rating of Aareal Bank (ETR:ARL) on 4/1/2021
HEI Heidelberg Materials	€188.00 -0.6%	4/1/2021		Set Price Target	€81.00	Neutral	View details for Independent Research rating of Heidelberg Materials (ETR:HEI) on 4/1/2021
LIN Linde	€421.60 -1.4%	4/1/2021		Set Price Target	€240.00	Neutral	View details for Independent Research rating of Linde (ETR:LIN) on 4/1/2021
PFV Pfeiffer Vacuum Technology	€167.80 -0.1%	4/1/2021		Set Price Target	€140.00	Sell	View details for Independent Research rating of Pfeiffer Vacuum Technology (ETR:PFV) on 4/1/2021
INH INDUS	€32.95 +2.3%	3/31/2021		Set Price Target	€42.00	Buy	View details for Independent Research rating of INDUS (ETR:INH) on 3/31/2021
ZIL2 ElringKlinger	€5.92 +8.0%	3/31/2021		Set Price Target	€12.00	Sell	View details for Independent Research rating of ElringKlinger (ETR:ZIL2) on 3/31/2021
JEN Jenoptik	€34.54 -1.5%	3/30/2021		Set Price Target	€27.50	Neutral	View details for Independent Research rating of Jenoptik (ETR:JEN) on 3/30/2021
DRI 1&1 Drillisch	€25.12	3/29/2021		Set Price Target	€28.00	Buy	View details for Independent Research rating of 1&1 Drillisch (ETR:DRI) on 3/29/2021
MLP MLP	€8.04 -0.7%	3/29/2021		Set Price Target	€7.20	Neutral	View details for Independent Research rating of MLP (ETR:MLP) on 3/29/2021
CBK Commerzbank	€36.92 -0.1%	3/26/2021		Set Price Target	€4.20	Sell	View details for Independent Research rating of Commerzbank (ETR:CBK) on 3/26/2021
DEQ Deutsche EuroShop	€19.88 -0.4%	3/26/2021		Set Price Target	€15.00	Sell	View details for Independent Research rating of Deutsche EuroShop (ETR:DEQ) on 3/26/2021
S92 SMA Solar Technology	€60.00 +3.6%	3/26/2021		Set Price Target	€51.00	Buy	View details for Independent Research rating of SMA Solar Technology (ETR:S92) on 3/26/2021
SHL Siemens Healthineers	€33.93 -4.7%	3/26/2021		Set Price Target	€48.00	Neutral	View details for Independent Research rating of Siemens Healthineers (ETR:SHL) on 3/26/2021
UTDI United Internet	€26.44 -0.7%	3/26/2021		Set Price Target	€45.00	Buy	View details for Independent Research rating of United Internet (ETR:UTDI) on 3/26/2021
PAH3 Porsche Automobil	€31.68 +0.3%	3/24/2021		Set Price Target	€93.00	Neutral	View details for Independent Research rating of Porsche Automobil (ETR:PAH3) on 3/24/2021
VOW3 Volkswagen	€88.08 +0.0%	3/23/2021		Set Price Target	€265.00	Buy	View details for Independent Research rating of Volkswagen (ETR:VOW3) on 3/23/2021
BC8 Bechtle	€30.66 +0.5%	3/22/2021		Set Price Target	€170.00	Neutral	View details for Independent Research rating of Bechtle (ETR:BC8) on 3/22/2021
VOS Vossloh	€78.05 +0.4%	3/22/2021		Set Price Target	€47.00	Buy	View details for Independent Research rating of Vossloh (ETR:VOS) on 3/22/2021
DRW3 Drägerwerk AG & Co. KGaA	€91.00 +0.9%	3/19/2021		Set Price Target	€74.00	Neutral	View details for Independent Research rating of Drägerwerk AG & Co. KGaA (ETR:DRW3) on 3/19/2021
HEI Heidelberg Materials	€188.00 -0.6%	3/19/2021		Set Price Target	€78.00	Buy	View details for Independent Research rating of Heidelberg Materials (ETR:HEI) on 3/19/2021
RHM Rheinmetall	€1,341.60 -6.9%	3/19/2021		Set Price Target	€101.00	Buy	View details for Independent Research rating of Rheinmetall (ETR:RHM) on 3/19/2021
BMW Bayerische Motoren Werke Aktiengesellschaft	€82.36 +1.2%	3/18/2021		Set Price Target	€88.00	Neutral	View details for Independent Research rating of Bayerische Motoren Werke Aktiengesellschaft (ETR:BMW) on 3/18/2021
WCH Wacker Chemie	€93.65 -0.3%	3/18/2021		Set Price Target	€124.00	Buy	View details for Independent Research rating of Wacker Chemie (ETR:WCH) on 3/18/2021
MOR MorphoSys	€67.25	3/17/2021		Set Price Target	€95.00	Buy	View details for Independent Research rating of MorphoSys (ETR:MOR) on 3/17/2021
VOW3 Volkswagen	€88.08 +0.0%	3/17/2021		Set Price Target	€220.00	Neutral	View details for Independent Research rating of Volkswagen (ETR:VOW3) on 3/17/2021
ZAL Zalando	€20.28 -0.8%	3/17/2021		Set Price Target	€108.00	Buy	View details for Independent Research rating of Zalando (ETR:ZAL) on 3/17/2021
DB1 Deutsche Börse	€247.10 -2.1%	3/16/2021		Set Price Target	€160.00	Buy	View details for Independent Research rating of Deutsche Börse (ETR:DB1) on 3/16/2021
SZG Salzgitter	€51.00 -1.4%	3/16/2021		Set Price Target	€25.00	Neutral	View details for Independent Research rating of Salzgitter (ETR:SZG) on 3/16/2021
BOSS Hugo Boss	€36.90 +0.8%	3/15/2021		Set Price Target	€35.00	Neutral	View details for Independent Research rating of Hugo Boss (ETR:BOSS) on 3/15/2021
DWS DWS Group GmbH & Co. KGaA	€60.30 +0.4%	3/15/2021		Set Price Target	€42.00	Buy	View details for Independent Research rating of DWS Group GmbH & Co. KGaA (ETR:DWS) on 3/15/2021
KCO Klöckner & Co SE	€12.52 -0.6%	3/15/2021		Set Price Target	€9.80	Neutral	View details for Independent Research rating of Klöckner & Co SE (ETR:KCO) on 3/15/2021
BMW Bayerische Motoren Werke Aktiengesellschaft	€82.36 +1.2%	3/12/2021		Set Price Target	€79.00	Neutral	View details for Independent Research rating of Bayerische Motoren Werke Aktiengesellschaft (ETR:BMW) on 3/12/2021
LXS LANXESS Aktiengesellschaft	€17.05 -5.6%	3/12/2021		Set Price Target	€64.00	Neutral	View details for Independent Research rating of LANXESS Aktiengesellschaft (ETR:LXS) on 3/12/2021
SDF K+S Aktiengesellschaft	€15.46 -1.1%	3/12/2021		Set Price Target	€9.60	Neutral	View details for Independent Research rating of K+S Aktiengesellschaft (ETR:SDF) on 3/12/2021
ADS adidas	€152.00 +2.5%	3/11/2021		Set Price Target	€310.00	Neutral	View details for Independent Research rating of adidas (ETR:ADS) on 3/11/2021
BNR Burning Rock Biotech	€17.02 +2.6%	3/11/2021		Set Price Target	€720.00	Neutral	View details for Independent Research rating of Burning Rock Biotech (NASDAQ:BNR) on 3/11/2021
SY1 Symrise	€73.76 -1.2%	3/11/2021		Set Price Target	€94.00	Sell	View details for Independent Research rating of Symrise (ETR:SY1) on 3/11/2021
G1A GEA Group Aktiengesellschaft	€59.30 +0.1%	3/10/2021		Set Price Target	€33.00	Neutral	View details for Independent Research rating of GEA Group Aktiengesellschaft (ETR:G1A) on 3/10/2021
PSM ProSiebenSat.1 Media	€4.04 +1.0%	3/10/2021		Set Price Target	€15.00	Sell	View details for Independent Research rating of ProSiebenSat.1 Media (ETR:PSM) on 3/10/2021
VNA Vonovia	€22.66 -1.3%	3/9/2021		Set Price Target	€57.00	Neutral	View details for Independent Research rating of Vonovia (ETR:VNA) on 3/9/2021

LHA Deutsche Lufthansa	€8.37 +1.8%	3/8/2021		Set Price Target	€10.10	Sell	View details for Independent Research rating of Deutsche Lufthansa (ETR:LHA) on 3/8/2021
KRN Krones	€128.20	3/3/2021		Set Price Target	€71.00	Neutral	View details for Independent Research rating of Krones (ETR:KRN) on 3/3/2021
MOR MorphoSys	€67.25	3/3/2021		Set Price Target	€120.00	Buy	View details for Independent Research rating of MorphoSys (ETR:MOR) on 3/3/2021
AIXA Aixtron	€48.99 -1.9%	3/2/2021		Set Price Target	€19.50	Neutral	View details for Independent Research rating of Aixtron (ETR:AIXA) on 3/2/2021
BAS Basf	€50.91 -3.1%	3/2/2021		Set Price Target	€71.00	Neutral	View details for Independent Research rating of Basf (ETR:BAS) on 3/2/2021
DTE DTE Energy	€141.43 -0.4%	3/1/2021		Set Price Target	€18.00	Buy	View details for Independent Research rating of DTE Energy (NYSE:DTE) on 3/1/2021
INH INDUS	€32.95 +2.3%	3/1/2021		Set Price Target	€38.00	Buy	View details for Independent Research rating of INDUS (ETR:INH) on 3/1/2021
PUM Puma	€25.26 +1.5%	3/1/2021		Set Price Target	€94.00	Neutral	View details for Independent Research rating of Puma (ETR:PUM) on 3/1/2021
VOW3 Volkswagen	€88.08 +0.0%	3/1/2021		Set Price Target	€184.00	Neutral	View details for Independent Research rating of Volkswagen (ETR:VOW3) on 3/1/2021
FME Fresenius Medical Care	€37.20 +3.8%	2/25/2021		Set Price Target	€71.00	Buy	View details for Independent Research rating of Fresenius Medical Care (ETR:FME) on 2/25/2021

MarketBeat Community Rating for Independent Research

MarketBeat's community ratings are surveys of what our community members think about Independent Research and other research firms in the last 90 days. Vote "Outperform" if you believe Independent Research's recommendations will outperform the S&P 500 over the long term. Vote "Underperform" if you believe Independent Research's recommendations will underperform the S&P 500 over the long term. You may vote once every thirty days.

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COMMUNITY RATINGS: 2.6out of 5 (last 90 days)
2.6 of 5 stars
OUTPERFORM VOTES: 39 Believe will outperform S&P 500
UNDERPERFORM VOTES: 37 Believe will underperform S&P 500

Analysts at Independent Research

Independent Research's equity research team has issued ratings on 4 companies across 3 sectors over the past 12 months, covered by 1 analyst. The Independent Research analysts below are listed by number of ratings issued in the last year.

David Konrad
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1 Rating

Independent Research Stock Coverage by Sector

Independent Research concentrates its research most heavily in Finance (50.0%), Services (25.0%) and Computer and Technology (25.0%). The chart below shows how Independent Research's 4 rated companies are distributed across all 3 sectors it covers.

Finance
2 companies
50.0%
Services
1 company
25.0%
Computer and Technology
1 company
25.0%

Best & Worst Calls

Best Call
0000.0%
ETR:RHM
Set Price Target • Apr 21, 2021
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Worst Call
000.0%
ETR:WDI
Set Price Target • Mar 16, 2020
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Independent Research - Frequently Asked Questions

: Independent Research has the deepest coverage in Finance (50.0% of rated companies), Services (25.0% of rated companies) and Computer and Technology (25.0% of rated companies).
: Independent Research issued 5 ratings over the last 12 months across 4 companies — an average of roughly 0 rating actions per month. These include set price target. MarketBeat tracks every rating change as it's published so you can see the most current Independent Research analyst actions.

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