CS cuts Daetwyler on limited pricing power amid high inflation
24/05/2022 09:30
** Credit Suisse cuts Swiss electronic components supplier
Daetwyler Holding DAE.S to "neutral" from "outperform", saying
high inflation and the company's limited pricing power have
lowered investors' expectations
** The broker says Daetwyler's profit warning last week came
as a surprise, as a downward correction due to higher raw
material, energy and transport costs was expected for the
cyclical business, but not for the entire group urn:newsml:reuters.com:*:nL5N2XA1RB
** Pricing power is therefore weaker than expected, it says
** CS adds investor sentiment has likely been dented in the
short term, and it expects the market to remain volatile as
decline in peer multiples has significantly reduced valuation
** Out of six analysts, five rate the stock "buy" and one
"hold"
(Reporting by Anastasiia Kozlova)
((Anastasiia.Kozlova@thomsonreuters.com))