thyssenkrupp: Commerzbank trims target price
(CercleFinance.com) - Commerzbank has trimmed its target price for the thyssenkrupp stock from 32 euros to 30 euros, while maintaining its "buy" rating following the German steelmaker's quarterly results.
The broker says that this change reflects lower earnings expectations for the group's industrial solutions and elevators businesses.
While Commerzbank admits that expected growth in 2018 EBIT is "good news," the broker cites a "weak mix," with performance in elevators, steel and components all falling short of their peer group average.
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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.
The broker says that this change reflects lower earnings expectations for the group's industrial solutions and elevators businesses.
While Commerzbank admits that expected growth in 2018 EBIT is "good news," the broker cites a "weak mix," with performance in elevators, steel and components all falling short of their peer group average.
Copyright (c) 2018 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.