Bilfinger down after UBS downgrades to 'neutral'

Bilfinger SE

25/07/2025 10:52

** Shares of German construction company Bilfinger GBFG.DE are down 2.5%, paring losses after falling as much as 3.9%, after a UBS downgrade to 'neutral' from 'buy'

** UBS bases its downgrade on a more than 100% share price rally YTD and delayed benefits from German stimulus

** It believes that the market already anticipates higher mid-term margin targets and says there is a higher execution risk on margin expansion outside of Europe

** UBS says that there is a time lag between the German government's spending increase and the implementation of the 2025 budget in September, expecting a ramp-up from 2026/2027

** Up to the previous session's close, shares were up 101.9%​ YTD​

** Out of 6 analysts that cover Bilfinger, five rate the stock "strong buy" or "buy,", ​one analyst rates "hold" - LSEG data

 (Reporting by Cian Muenster)

 ((Cian.muenster@thomsonreuters.com))