Berenberg starts Jost Werke with 'buy' as down-cycle ends
04/09/2024 07:54
** Berenberg initiates Jost Werke JST.DE with "buy" as it
expects the German supplier of components to the truck and
commercial vehicle markets to benefit from industry recovery
once cyclical headwinds ease in 2025
** It notes Jost is the market leader for its main products
and manages sales fluctuations well even in cyclical end-markets
** The company's agricultural business should benefit from
increased automatisation in the coming years, along with the end
of dealer destocking, it adds
** The broker also highlights Jost's financial flexibility
that will allow it to undertake M&A activities
** Out of five analysts that cover Jost Werke, three rate it
"strong buy" or "buy" and two "hold" - LSEG
(Reporting by Chiara Holzhaeuser)
((Chiara.Holzhaeuser@thomsonreuters.com))