Alimak: Kepler cautious on construction revenues, cuts to "hold"
21/01/2020 09:33
** Kepler Cheuvreux downgrades Sweden-based industrial
equipment company Alimak Group ALIG.ST to "hold" from "buy"
and raises its target price to SEK 150 from SEK 145
** The brokerage says order intake in the Construction
business area has been weak for two consecutive quarters and
should affect revenues in Q4 2019 and Q1 2020
** "Alimak is a niche player in the construction market and
dependent on a few large customers. With lower capex guidance
from Cramo, for example, there is a risk of another weak quarter
in Q4," Kepler says
** It says it expects more clarification regarding the
future order book in Construction after the Q4 report, which is
due on Feb. 21
** Shares in Alimak are down 2.3%
((marta.frackowiak@thomsonreuters.com))