DHL 2011 Annual Report Download - page 50

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Majority of analysts recommend Deutsche Post shares
At the end of ,  analysts were following Deutsche Post shares. A total of 
analysts issued a “buy” recommendation on our shares, four more than a year earlier.
ree analysts issued a neutral recommendation regarding Deutsche Post shares and
only three recommended selling.  e average price target decreased slightly at year end
to  . compared with the prior year  . despite our pro t forecast, which we
raised during the course of the year. Analysts anticipate a weakening macroeconomic
situation and therefore valued the shares lower.
Deutsche Post shares remain popular amongst private investors
e number of shares held by private investors rose again compared with the previ-
ous year, increasing from .  to .  of all issued shares. KfW Bankengruppe con-
tinued to hold .  of our shares.  e free  oat is . . Amongst identi ed institu-
tional investors, the greatest numbers of issued shares are held in the United Kingdom
. , the United States .  and Germany . . Our  largest institutional
investors hold a total of .  of all issued shares.
Focused investor relations work appreciated
e Group having successfully completed all major restructuring e orts, investors
in  returned their attention to the development of operations and the business
outlook in our divisions.  is allowed us to take our equity story on the o ensive and
show investors how we are successfully implementing our Strategy .
. Candlestick graph / -day moving average
14
13
12
11
10
9
8
Jan. 2011 Feb. 2011 Mar. 2011 April 2011 May 2011 June 2011 July 2011 Aug. 2011 Sep. 2011 Oct. 2011 Nov. 2011 Dec. 2011
Moving average
The highest price for the week
Opening or closing price
Opening or closing price
The lowest price for the week
Body is black if stock closed lower,
body is white if stock closed higher
. Shareholder structure
1
1 As at  December .
2 On  July  KfW issued a convertible
bond on Deutsche Post  shares (volume:
. million shares). Investors can convert
this bond from the first due date for interest
until  July .
4.5 % KfW convertible
bond
2
59.3 % institutional
investors
10.2 % private investors
30.5 % KfW Bankengruppe
69.5 % free oat
Deutsche Post DHL Annual Report 
44