Italy's Carel gains on UBS 'buy' rating, notes structural growth exposure

Carel Industries SpA

09/06/2025 10:40

** UBS starts coverage of Carel Industries CRLI.MI with "buy" rating, highlights "exciting" structural growth exposure

** CRLI climbs 5.5% to 22.9 euros

** Air conditioning and refrigeration control systems producer offers exposure to several structural growth areas such as data centres, refrigeration and residential heat-pumps, that together make around 60% its revenues, it says

** CRLI Q1: topline 0.7% growth, "strong" YTD order book - UBS

** Potential further growth for the upcoming quarters, it adds

** Mega-trends such as rising populations, energy transition, higher living standards, increased focus on air quality and climate change are all likely to support continued HVAC systems demand - UBS

** Out of 5 analysts, ​one rates it "buy", ​​four rate "hold" - data compiled by LSEG

 (Reporting by Philippe Leroy Beaulieu in Gdansk)

 ((Philippe.leroybeaulieu@thomsonreuters.com))