Palfinger confirmed at BUY, TP EUR 31 - Navigating through macro woes
Following hefty reductions of market expectations over the course of H1, we think that forecasts for Palfinger should stabilise in the aftermath of its compelling resultsHaving suspended its guidance amid the ramifications of the war, the management has reinstated a convincing outlook for FY 22 calling for turnover to reach EUR 2 bn
At this stage we assume that moderate top-line growth can be maintained amid convincing pricing power and still intact demand in its overseas markets
Especially the scope for a more flexible and short-term oriented pricing strategy that will take effect as of January 2023 should allow for a better mitigation of margin pressure
Palfinger provides lifting solutions for use on commercial vehicles and in the maritime field. Co. is engaged in providing loader cranes, timber and recycling cranes, marine cranes, wind cranes and hooklifts service. In addition, Co. is engaged in providing tail lifts and high-tech railway systems. Co. offers its products and services primarily to construction industry, transport logistics, public authorities, waste disposal, forestry and agriculture and railway infrastructure. In the marine business, Co. sells worldwide, primarily to customers in deep sea navigation and in the oil and gas industry. Co.'s brand is LIFETIME EXCELLENCE.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.