Jefferies cuts Kion to 'hold', seeing risks after 68% YTD rally

Kion AG

09/07/2025 11:22

** Jefferies downgrades German construction company Kion KGX.DE to "hold" from "buy" following a 68% YTD rally that left it with a smaller upside, with risks ahead as investor focus moves to earnings

** The brokerage says the re-rating of the shares brought Kion's P/E multiple in line with historical averages

** It adds German stimulus could take longer than expected to drive growth acceleration in forklifts, and that there is a risk of lower dividends in the near-term as the company seeks a return to an investment-grade credit rating

** Among 20 analysts that cover Kion, the breakdown of recommendations are 15 "strong buy" or "buy" and five "hold" - LSEG data

 (Reporting by Cian Muenster)

 ((Cian.muenster@thomsonreuters.com))