Report
hGears : Preview 1H22 plus downward revision estimates 2022-2024 and TP
>Recession assumed, estimates down materially, TP to €16 - hGears will report 1H22 results on August 3rd. We are incorporating a recession that will last from 4Q22 to 3Q/4Q23 in all Benelux industrials under our coverage at ABN AMRO Oddo BHF. As a result, we have materially lowered our estimates for hGears for 2022 to 2024. This downward adjustment also has a negative effect on our price target, which moves from €20 per share to €16 per share (multiples based). For 1...
Underlying
HGEARS AG
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Martijn Den Drijver
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