SKF: Jefferies less enthusiastic on bearings.
(CercleFinance.com) - Jefferies maintains a "hold" rating on SKF, keeping a 180 Swedish kronor target price on the shares of the world's biggest bearings maker.
In a research note sent to clients, the US broker said it is afraid the bearings market could see demand at the low end of expectations in the second half of the year.
In this context, with SKF already trading at a premium to global competitors, reflecting its number 1 market share and high-end margins, Jefferies does not see any potential for a significantly higher valuation rating.
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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 research note sent to clients, the US broker said it is afraid the bearings market could see demand at the low end of expectations in the second half of the year.
In this context, with SKF already trading at a premium to global competitors, reflecting its number 1 market share and high-end margins, Jefferies does not see any potential for a significantly higher valuation rating.
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.