Report
hGears : Preview Q3 + Lowering estimates 2023-2025, TP to €4 per share
>Preview Q3 2023: A weak quarter in terms of sales and adj. EBITDA - hGears will publish Q3 2023 results on November 8 at 07.30h CET. An analyst call is scheduled for 10h CET. We assume that the destocking in E-bike has continued to weigh on the E-mobility segment as many bike players reported strong sales declines in Q3 2023, such as Shimano (-25% yoy ), Merida (-29%) and Bafang (-43%). We also assume that E-Tools has weakened as consumers halt purchases or trade dow...
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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