KONE : A real proxy for China which could prove to be a handicap in 2021. Neutral vs Buy
>Status of leader in China key for 2020 … - We are publishing today a sector study ("2021 could contain a number of surprises (inflation, China, etc.)") on capital goods groups with exposure to construction, with a detailed analysis of the most dynamic market segments to be expected in 2021 and our risk analysis during the Q4 2020 results publications on the outlook for 2021.The Finnish group has the highest exposure to China in the sector (30% of sales). We...KONE is an elevator and escalator industry group based in Finland. Co. is engaged in the provision of products and services for the installation, modernization and maintenance of elevators, escalators and automatic building doors. Co. provides its products and services throughout the entire lifecycle of the equipment, beginning from the installation of new equipment to the maintenance and modernization during their lifecycle and the full replacement of the equipment. Co.'s customers are active in industry segments such as residential, office, retail, public transportation, hotel, hospital, and marine.
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.
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