Husqvarna slips to May 2020 lows after broker downgrade

Husqvarna AB

13/01/2025 08:31

** Shares in Husqvarna  HUSQb.ST  slip 1.6% to May 2020 lows
after Jefferies cut its rating on the Swedish gardening
equipment to "hold" from "buy"
    ** It says the company's Gardena division in Europe has been
negatively impacted by unfavorable weather and cautious retailer
behavior
    ** In North America, Construction is experiencing weak
demand while intense promotional activities hurt gross margins
at Forest and Garden division
    ** While Husqvarna prepares 13 new robotic models for 2025,
broker notes that price hikes will be difficult and some models
are not adding to margins
    ** Negative economic indicators in Germany and France add to
the challenges, it says
    ** Out of 10 analysts covering Husqvarna, five rate the
stock "buy" or "strong buy," four "hold" and one "strong sell"
    


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