Carnegie ups PT on Hexagon Composites by more than half

Hexagon Composites ASA

07/08/2024 09:56

** Carnegie raises its PT on Hexagon Composites  HEX.OL  by
more than a half on strong Q2 volumes estimates 
    ** Hikes PT by 56% to NOK 56, keeps "buy" rating
    ** Broker says that recent forecast cut for class 8 truck
volume by Daimler  DTGGe.DE  and Kenworth has increased
perceived risk for Hexagon's volumes too among investors
    ** But it points out that U.S. power solutions company
Cummins  CMI.N  has raised its volume outlook, which implies a
potential upside surprise for Hexagon's natural gas fuel systems
in Q2
    ** Robust Q2 volumes could potentially raise consensus
EBITDA for 2024 by 10-20%, broker adds
    ** Hexagon Composites' stock is up 6.5% after falling more
than 11% since August 1
    ** Out of four analysts covering Hexagon Composites, all
four rate the stock "buy" or "strong buy"

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))