UBS cuts to "sell"

Bossard Holding AG

15/01/2020 10:13

** UBS downgrades Swiss industrial service group Bossard
Group  BOS.S  to "sell" from "neutral", cuts PT to CHF 127 from
CHF 137
    ** The brokerage cites a muted demand backdrop and low EBIT
growth prospects 
    ** UBS says it sees organic sales declining in 2020, mainly
due to continued weakening in manufacturing PMI across Europe
and Asia that points towards further pressure for sales 
    ** "We see EBIT margin headwinds arising from UBS forecasted
higher raw material prices and its ongoing investment program,"
the brokerage says
    ** Adds that it expects positive mix benefits arising from
such investments to benefit Bossard's margins only in the later
years 

 ((Tommyalexander.lund@thomsonreuters.com))