thyssenkrupp: Credit Suisse raises target price.
(CercleFinance.com) - Credit Suisse has raised its target price from 33 euros to 34.
3 euros on thyssenkrupp ahead of the German industrial group's Q3 earnings report on 10 August.
The brokerage firm - which maintains its "outperform" rating on the stock - says earnings momentum should pick up significantly in the second half of the year, mainly driven by the steel and elevator businesses.
"We see scope for elevator, components and Industrial solutions to grow materially in 2018 suggesting thyssenkrupp earnings could be about to notch up a level," the broker said.
While setting a "blue sky" scenario at 84 euros per share, Credit Suisse thinks a re-rating to 40+ euros is more conceivable in the nearer term (1-2 years), under various scenarios.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
3 euros on thyssenkrupp ahead of the German industrial group's Q3 earnings report on 10 August.
The brokerage firm - which maintains its "outperform" rating on the stock - says earnings momentum should pick up significantly in the second half of the year, mainly driven by the steel and elevator businesses.
"We see scope for elevator, components and Industrial solutions to grow materially in 2018 suggesting thyssenkrupp earnings could be about to notch up a level," the broker said.
While setting a "blue sky" scenario at 84 euros per share, Credit Suisse thinks a re-rating to 40+ euros is more conceivable in the nearer term (1-2 years), under various scenarios.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.