Baader ups Dormakaba to 'add' on transformation program progress

Dormakaba Holding AG

06/12/2024 08:08

** Baader Helvea ups Swiss security device maker Dormakaba
 DOKA.S  to "add" from "reduce" and raises PT by 59%, saying
transformation program should improve profitability
    ** While environment is challenging, the company's strong
performance sets it on track to achieve mid-term targets, Baader
says
    ** The broker points to positive EBITDA margin development
thanks to procurement savings and operational efficiency
improvements
    ** "A full 'transformation' will take several years, but the
progress made within just one year is encouraging and indicates
that the company is on the right path," the broker says

 (Reporting by Amir Orusov)
 ((Amir.orusov@thomsonreuters.com))