Wacker Neuson: Jefferies starts monitoring as a buyer
(CercleFinance.com) - An analyst at Jefferies today announced that he is beginning to monitor the share of the German construction equipment group Wacker Neuson with a "buy" rating.
"After last week's warning on FY19 profitability (...), markets have understandably punished WAC shares, which now trade c50% below their 2019 peak in April last year and at a steep discount to peers. Leaving behind a disappointing 2H19 with several self-inflicted operational issues, we think it is time to look at the fundamental value of this stock," the broker said.
Jefferies has set its target price for the share at 23 euros.
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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.
"After last week's warning on FY19 profitability (...), markets have understandably punished WAC shares, which now trade c50% below their 2019 peak in April last year and at a steep discount to peers. Leaving behind a disappointing 2H19 with several self-inflicted operational issues, we think it is time to look at the fundamental value of this stock," the broker said.
Jefferies has set its target price for the share at 23 euros.
Copyright (c) 2020 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.