Kepler raises AAK to 'buy' on successful transformation, 'reassuring' 2030 goal
27/11/2024 09:57
** Kepler Cheuvreux upgrades AAK AAK.ST to "buy" from
"hold", citing the Swedish oil and fat producer's recent
transformation from a volume- to a value-driven business
** AAK on Tuesday raised its 2030 profitability goal to over
SEK 3/kg from around SEK 2/kg previously
** Kepler calls this change "reassuring" and says it could
lower the risk of loss, viewing the aspiration as upside
potential for its raised forecast of SEK 2.60/kg
** The broker adds it likes AAK's strong track record and
strategy, which has seen it shift from a commodity processor to
a supplier of specialist ingredients
** Out of 11 analysts covering AAK, six rate it "strong buy"
or "buy", three "hold" and two "sell"
** The AAK shares rise 3% by 0957 GMT
(Reporting by Vera Dvorakova)
((vera.dvorakova@thomsonreuters.com))