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Disclosure according to sec. 85 German Securities Trading Act and Art. 20 MAR for company Software AG:

Markings in the chart show rating changes by Warburg Research GmbH in the last 12 months. Every marking details the date and closing price on the day of the rating change.
Recommendation/Target Price History

Date Recommendation Target Price Close Price Analyst
05.01.2018 Buy 58.00 EUR 48.00 EUR Andreas Wolf
21.08.2017 Buy 41.00 EUR 35.68 EUR Andreas Wolf
18.07.2017 Hold 38.00 EUR 38.16 EUR Andreas Wolf


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