ThyssenKrupp: Credit Suisse reinstates coverage as a buyer

(CercleFinance.com) - Credit Suisse says that it has reinstated coverage of ThyssenKrupp shares with an "outperform" rating and a target price of 14.
5 euros, believing that the German industrial group's earnings and free cash flow recovery "is not yet over".

The broker considers that the margins available to ThyssenKrupp for restructuring activities, combined with more favourable market conditions, will enable it to post earnings growth.

"With a negative 2% terminal growth rate implied in the share price, we think the market is still too pessimistic on the stock compared with our estimate of 1%", it adds.


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