Cargotec (Buy, TP: EUR57.00) - Orders and profitability in focus
For the Q3 results, due on 1 November (time TBA), we expect Hiab orders and clean EBIT to be in focus, while to-be-exited MacGregor (MG) orders and clean EBIT are also of interest. We have raised our 2024–2026e clean EPS by c2% on average, and reiterate our BUY with an increased target price of EUR57 (53).Cargotec is a provider of cargo handling solutions. Co. has three business areas: MacGregor, Kalmar and Hiab. MacGregor provides integrated cargo and load handling solutions and services for the maritime transportation and offshore industries. Kalmar offering consists of container and cargo handling equipment and related services, automation, software and integration solutions as well as Navis terminal operating systems, Bromma spreaders and Siwertell bulk handling systems. Hiab is a provider of on-road load handling equipment and services. Hiab provides products, services and spare parts that are used in on-road transport and delivery.
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