ThyssenKrupp: Jefferies maintains a 'buy' rating
(CercleFinance.com) - Jefferies maintains a "buy" rating and a 33-dollar price target on ThyssenKrupp after the German steelmaker announced the resignation of the chairman of its supervisory board, Ulrich Lehner.
Following the recent departure of CEO Hiesinger, it is clear that ThyssenKrupp is at a "crossroads", the US broker said.
Lehner was a strong defender of ThyssenKrupp's diversified footprint and emphasised that a rumoured disposal of the company's elevators business was "out of the question", it said.
"A sharply worded resignation announcement from Lehner makes clear that aggressive restructuring may be in the cards", Jefferies wrote in a note.
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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.
Following the recent departure of CEO Hiesinger, it is clear that ThyssenKrupp is at a "crossroads", the US broker said.
Lehner was a strong defender of ThyssenKrupp's diversified footprint and emphasised that a rumoured disposal of the company's elevators business was "out of the question", it said.
"A sharply worded resignation announcement from Lehner makes clear that aggressive restructuring may be in the cards", Jefferies wrote in a note.
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.