Kone: Oddo BHF a buyer - likes group's resilience

(CercleFinance.com) - This morning, an Oddo BHF analyst confirmed his "buy" rating on the stock of Finnish lift maker Kone.
WHile noting that Q2 is expected to be down, he likes the group's sound "resilience".

The broker believes that lift operators should better resist the current health and economic crisis, in particular benefiting from their maintenance activity as a shock absorber (lifts need to be kept in working order), especially as this business is highly profitable. In addition, the group benefits from a solid balance sheet (net cash position) and its exposure to China (29%), a country that dominates demand for new installations (63% of global demand), a key strength when the recovery comes, the broker comments.

Oddo BHF therefore confirms its target price of 70 euros for the share, meaning upside potential of 13%.


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