ThyssenKrupp: 27% potential according to Credit Suisse
(CercleFinance.com) - Credit Suisse maintains its 'Buy' recommendation (outperform) on the ThyssenKrupp share, whilst raising its target price from 28 to 30 euros.
This augurs well for growth potential of more than 27% at current exchange rates.
Credit Suisse expects operating income of 512 million, which is under consensus (554 million). The difficult situation of the Industrial Solutions division is likely to continue to have an impact, despite the upturn of Steel Europe. Cash flow is also set to be “weak”.
“Many negative factors that weigh heavily on ThyssenKrupp as an investment case are still in place”, recognises the note. A swathe of recent departures by managers have raised questions as to a potential split in the group, a hypothesis that Credit Suisse considers “very unlikely”.
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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.
This augurs well for growth potential of more than 27% at current exchange rates.
Credit Suisse expects operating income of 512 million, which is under consensus (554 million). The difficult situation of the Industrial Solutions division is likely to continue to have an impact, despite the upturn of Steel Europe. Cash flow is also set to be “weak”.
“Many negative factors that weigh heavily on ThyssenKrupp as an investment case are still in place”, recognises the note. A swathe of recent departures by managers have raised questions as to a potential split in the group, a hypothesis that Credit Suisse considers “very unlikely”.
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.