European vacuum sector: HSBC turns more cautious on 2019 outlook
15/04/2019 09:18
** HSBC turns more "cautious" on 2019 outlook for European
vacuum solution cos, as technology sector's capital expenditure
outlook worsens
** Says technology sector, a major customer group for vacuum
cos, still faces issues such as project delays, underutilisation
of plants, and fall in chip prices in 2019
** "It is too early to call a recovery", broker believes,
adding hard evidence is still missing for rebalancing of supply
and demand hoped by vacuum cos
** Says it reduces 2019 and 2020 estimates across its
coverage, expecting earning cuts on further downside risks
** Cuts by one notch Atlas ATCOa.ST (-1 pct) and Inficon
IFCN.S (-4 pct) to "hold" and Pfeiffer PV.DE (-3 pct) to
"reduce", VAT VACN.S (-2 pct) gets lowered to "reduce" from
"buy"
((linda.pasquini@tr.com))