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    BofA sees European industrials recovery 'delayed rather than derailed'

    Picture of Kion AG logoKion AG
    27/03/2026 13:00
    ** BofA Global Research expects the short-cycle recovery in the European industrials sector to be delayed by higher energy prices and supply chain fragility tied to the war in Iran

** The broker expects Q2 industrial production to decelerate and capex decisions to be delayed

** BofA downgrades Swedish bearings maker SKF SKFb.ST to "underperform" from "buy", citing its high sensitivity to industrial production and auto exposure alongside potential margin impacts from higher steel prices

** The brokerage upgrades German braking systems maker Knorr-Bremse KBX.DE to "buy" from "neutral" noting the resilience of its rail business in the current market environment


    COMPANYNEW RATINGOLD RATING
    Atlas Copco ATCOa.STbuy--
    Daimler Truck DTGGe.DEbuy--
    Kion KGX.DEbuy--
    Knorr-Bremsebuyneutral
    Volvo VOLVb.STbuy--
    Weir WEIR.Lbuy--
    Metso METSO.HEneutral--
    FLSmidth FLS.COneutral--
    Sandvik SAND.STneutral--
    Epiroc EPIRa.STunderperform--
    SKFunderperformbuy
    Traton 8TRA.DEunderperform--
    Trelleborg TRELb.STunderperform--
    

(Reporting by Marta Frackowiak)

((marta.frackowiak@thomsonreuters.com))

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