Refile: BUZZ-Berenberg cuts Huber + Suhner to 'hold' from 'buy' on 'little room for upside'

Huber+suhner AG

Tue 08:10

Removes extraneous text in the second bullet
     ** Berenberg downgrades Swiss optical connectivity products maker Huber + Suhner HUBN.S to "hold" from "buy" as the stock's massive rally limits further gains
** While the broker is positive on the emerging optical circuit switch (OCS) business, it cautions that the level of margin accretion from these products remains uncertain
   ** The broker notes that production ramp-up is on track with a new assembly line arriving at the Polish facility to help deliver the initial hyperscaler order
** Berenberg adds that the current valuation is fair relative to peers and broadly justified as it reflects a much lower margin and earnings growth over the next three years 
   ** Up to the previous session's close, shares were up 79.2%​ YTD
   ** Out of 4 analysts that cover Huber+Suhner AG, two rate the stock "strong buy" or "buy," ​one analyst rates "hold" and one rates the stock "strong sell"​​ - LSEG data
     

 (Reporting by Orest Dovhan)
 ((Orest.Dovhan@thomsonreuters.com))