Citi cuts KION after YTD share rally

Kion AG

05/12/2025 09:10

** Citigroup cuts KION Group KGX.DE to "neutral" from "buy", citing YTD share gains driven by anticipation of a recovery of German industrial production

** YTD, the logistics equipment manufacturer's shares have gained about 106%; Citi flags the valuation is now approaching the historical average

** Citi expects a lag in the effects of the German stimulus package, with a potential boost not seen before the H2 next year

** The broker adds the gains have been also driven by improving sentiment on global warehouse capex

** Citi however does not expect a return to 2020/21 peak valuation levels from the pandemic

** Out of 20 analysts covering KION, 13 rate it "strong buy"/"buy", six "hold" and one "sell" - LSEG data

(Reporting by Simon Ferdinand Eibach)

((Simonferdinand.eibach@thomsonreuters.com))