Alfa Laval: BofA remains a buyer
(CercleFinance.com) - BofA Global Research has reiterated its "buy" rating on the shares of Alfa Laval, saying the Swedish engineering group's "confident" investor day brought "no real surprises.
"
In a note to clients, the broker said it sees "opportunities" in energy storage and alternative proteins, which represent 80% of the growth in the protein market.
Vegetables, insects and cell-cultured meat were highlighted as new growth areas, BofA said.
However, the broker added that the Alfa share is trading at a 2020E EV/EBITA of about 12x, compared to about 13x for the sector, which already discounts investors' concern on the marine business' order momentum, it noted.
The Alfa Laval stock is currently down 0.2% at 231.7 Swedish kronor.
Copyright (c) 2019 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.
"
In a note to clients, the broker said it sees "opportunities" in energy storage and alternative proteins, which represent 80% of the growth in the protein market.
Vegetables, insects and cell-cultured meat were highlighted as new growth areas, BofA said.
However, the broker added that the Alfa share is trading at a 2020E EV/EBITA of about 12x, compared to about 13x for the sector, which already discounts investors' concern on the marine business' order momentum, it noted.
The Alfa Laval stock is currently down 0.2% at 231.7 Swedish kronor.
Copyright (c) 2019 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.