Kone: share price down after recommendation cut

(CercleFinance.com) - Kone shares were down on the Helsinki Stock Exchange on Monday, after RBC lowered its recommendation, citing "headwinds" for 2025.


At around 4:30 pm, shares in the Finnish elevator manufacturer were down by around 1%, while the OMXH25, the Nordic Exchange's benchmark index, was up by 0.3% at the same time.

In a note released in the morning, RBC lowered its recommendation on the stock to 'underperform' from 'in line with sector performance', with a price target reduced from 48 to 44 euros.

While Kone is a quality company, we perceive a risk of disappointment with consensus forecasts for 2025, and believe that the share revaluation orchestrated for 2024 is somewhat premature", writes the American broker.

Disappointing order book conversion, rising bad debts, the arrival of repayment deadlines and limited capacity for margin growth lead us to consider that 2025 will be a year of transition", it adds.

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