Berenberg
Berenberg is a privately owned Hamburg bank founded in 1590, Germany's oldest private bank. Its investment bank, with most of its equity analysts in London, publishes research on more than 800 mainly European companies.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 5612M
- Actions
- 6812M
- Ratings / Price targets
- 3 / 65
- Upgrades / Downgrades
- 2 / 0
- Buy-rated
- 100%of 3 rated
- Median upside
- +18.4%
- Targets raised / lowered
- 23 / 9
- On record
- Dec 2012 – Sep 2026
Overview
In 2025, Berenberg expanded its equity research team from 90 to 107 analysts, including 93 in London. Coverage grew to 846 companies, including 775 in Europe and 58 in the United States. An equity sales team of 49 serves almost 960 institutional clients, and the bank arranged 23,000 meetings between investors and company management teams in 2025.
Brothers Hans and Paul Berenberg, Protestant refugees from Antwerp, founded the firm in Hamburg in 1590. Johann Hinrich Gossler, who had married into the family, became a partner in 1769. The bank remains privately owned, with the von Berenberg family holding 31.86% as of August 2026. In June 2026, BaFin suspended its three managing partners over possible governance breaches and appointed special commissioners Hans-Walter Peters and Michael Horf. The Döhle Group acquired an indirect 9.98% stake in August 2026.
Milestones
- 1590
Founded in Hamburg by Hans and Paul Berenberg
- 1769
Johann Hinrich Gossler becomes partner through marriage
- 2026
BaFin suspends managing partners, appoints special commissioners
Döhle Group acquires 9.98% stake
Firm facts
- Legal name
- Joh. Berenberg, Gossler & Co. KG
- Type
- Full-service
- Founded
- 1590
- Headquarters
- Hamburg, Germany
- Special Commissioner with managing director powers (appointed by BaFin)
- Hans-Walter Peters
- Rating scale
- BuyHoldSell12 months
- Also filed as
- Berenberg Bank
- Website
- berenberg.de
Research philosophy
Freedom of thought and complete independence are core to our research philosophy.
Berenberg places stock selection at the center of its equity research, using detailed financial analysis and assessments of management to identify mispriced shares. Sector specialists work with the bank's economists, strategists and sustainability team to examine trends across industries. As of 2026, its disclosures state that analysts' pay is not tied to their recommendations and that research is prepared under rules designed to preserve its independence.
Rating methodology
Ratings are absolute: Buy (sustainable upside of more than 15% within 12 months), Hold, and Sell (downside of more than 15%).
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Eli Lilly and CompanyLLY | Hold | $1,400 |
 AbbVie Inc.ABBV | Buy | $275 |
 Autodesk, Inc.ADSK | Buy | $333 |
 CrowdStrike Holdings, Inc.CRWD | Buy | $720 |
 DraftKings Inc.DKNG | Buy | $26.40 |
 Merck & Co., Inc.MRK | Hold | $137 |
 Accenture plcACN | Buy | $220 |
 Albemarle CorporationALB | Hold | $153 |
 Amrize LtdAMRZ | — | $70 |
 BioNTech SEBNTX | Buy | $140 |
Most active analysts
- Kerry Holford5 notesLLYGSKNVO
- Nay Soe Naing5 notesADSKCDNSIOT
- Rahul Chopra3 notesCRWDPANW
- Luisa Hector3 notesMRKAZN
- Michael Filatov2 notesHAWKMBLY
- Harry Gillis2 notesBNTXQGEN
Recent actions
| Date | Stock | Rating action | Target | Analyst |
|---|---|---|---|---|
| Sep 16 | BioNTech SEBNTX | Target | $155 →$140 | |
| Sep 15 | GSGSK plcGSK | Target | $60 | Kerry Holford |
| Sep 15 | Eli Lilly and CompanyLLY | Target | $1,135 →$1,400 | Kerry Holford |
| Sep 14 |  On Holding AGONON | Target | $31 →$38 | |
| Sep 11 | SNSmith & Nephew plcSNN | Target | $33.88 | |
| Sep 11 | CLCLPBY | Target | $7.38 | |
| Sep 11 | Merck & Co., Inc.MRK | Target | $90 →$137 | Luisa Hector |
| Sep 9 |  Lam Research CorporationLRCX | Target | $840 →$420 | |
| Sep 8 | CRCRH plcCRH | Target | $120 →$140 | Harry Goad |
| Sep 3 | PUPrudential plcPUK | Target | $39.30 | Michael Huttner |
| Sep 2 |  Rocket Lab USA, Inc.RKLB | Target | $83 | |
| Sep 2 |  Planet Labs PBCPL | Target | $25 |