Conzzeta: Kepler sees little scope stock to rise, cuts to "hold"

Bystronic AG

29/01/2020 07:50

** Kepler Cheuvreux cuts Swiss industrial holding Conzzeta
 CONC.S  to "hold" from "buy"
    ** According to Kepler, the stock has little scope to rise
after a jump on the group's successful divestment of its coating
chemicals business Schmid Rhyner  urn:newsml:reuters.com:*:nFWN28T124
    ** Conzzeta will provide a trading update on February 5, but
its "reasonable" targets already factor in a catch-up in Q4
after a soft Q3, Kepler says
    ** In spite of the quarter-on-quarter improvement,
Conzzeta's guidance for full-year sales slightly below the
previous year remains "sluggish", Kepler adds
    ** The broker also expects the group to slightly
underperform the level of full-year pro forma group EBIT it had
achieved in 2018

 ((zuzanna.szymanska@tr.com))