UBS cuts Epiroc to 'sell,' sees capex supercycle already priced in
Tue 08:52
BUZZ-UBS cuts Epiroc to 'sell,' sees capex supercycle already priced in ** UBS downgrades Swedish mining equipment manufacturer Epiroc EPIRa.ST to "sell" from "neutral," citing primarily valuation
** The broker notes the current share price discounts a capital expenditure supercycle scenario, which it views as "overly ambitious at this juncture"
** This priced-in scenario implies a 15% top-line revenue growth and a 40% drop-through over a three-year period
** Despite the rating downgrade, the brokerage raises its target price by 15% to SEK 230
** Epiroc shares slide 4.3% in morning trade and are on track for their worst day since March
(Reporting by Agnieszka Olenska)
Recent news on Epiroc AB
See all newsImmigration crackdown hurts Sweden Inc while right pins election hopes on tougher rules
Immigration crackdown hurts Sweden Inc while right pins election hopes on tougher rules
UBS cuts Epiroc to 'sell,' sees capex supercycle already priced in
Europe Research Roundup: DSM-Firmenich, ING Groep, Straumann Holding
Brief: Epiroc Reconfirms Financial Goals, Expects High Near-Term Mining Demand