ThyssenKrupp: Credit Suisse adjusts target price
(CercleFinance.com) - Credit Suisse reinstates its 'Outperform' rating on ThyssenKrupp shares, nudging up its target price for them to 14.
7 euros (vs. 14.5 euros), after it increased its adjusted EBIT estimate by 39% to 637 million euros for FY 2020-21.
"We think the earnings resilience in the technology-related businesses QoQ has been remarkable, showing that the restructuring efforts of the past are starting to pay-off together with an improvement in the overall market conditions," the broker says.
The broker believes that the company's EBIT guidance of a mid-triple digit million euros amount is too conservative and there is room to lift the guidance further.
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