Citi forecasts growing mining-equipment orders into 2027, hikes PT on some European firms
BUZZ-Citi forecasts growing mining-equipment orders into 2027, hikes PT on some European firms ** Citi expects step-up in mining-equipment orders from 2027 as copper projects in South and North America move into a heavier spending phase
** Notes Epiroc EPIRa.ST ("buy", hikes PT to SEK 317 from SEK 301) as relatively well placed given its exposure to open-pit copper and the Americas, with Q3 orders seen beating consensus and further equipment-order upside into 2027-28
** Flags soft orders, tungsten pressure partly due to FX for Sandvik SAND.ST ("neutral, hikes PT to SEK 381 from SEK 372)
** Expects Metso METSO.HE ("neutral, hikes PT to €17 from €15.9) to beat Q3 order expectations despite weaker revenue recognition, with larger orders accelerating into 2027
** Adds, Metso to announce two larger triple-digit orders before year-end, with five similar announcements in 2027
** Shares of Epiroc, Sandvik and Metso are up 4.1%, 2% and 1.3%, respectively
(Reporting by Jesus Calero)
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