Kone: Jefferies initiates coverage with 'buy' rating.
(CercleFinance.com) - Jefferies initiates its coverage of Finnish lift maker Kone with a "buy" rating and a target price of 50 euros.
In a note sent to clients, the brokerage firm said the elevator and escalator (E&E) markets provide unique exposure to urbanisation and a rising middle class population worldwide.
Jefferies added that Kone, as well as Swiss rival Schindler, generate high levels of cash, benefiting from strong balance sheets in a market that is set to benefit from growth in China.
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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.
In a note sent to clients, the brokerage firm said the elevator and escalator (E&E) markets provide unique exposure to urbanisation and a rising middle class population worldwide.
Jefferies added that Kone, as well as Swiss rival Schindler, generate high levels of cash, benefiting from strong balance sheets in a market that is set to benefit from growth in China.
Copyright (c) 2017 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.