Knorr Bremse falls on Citi and JP Morgan rating cuts

Knorr Bremse AG

27/06/2025 09:11

** Shares in the German truck and rail break manufacturer Knorr Bremse KBX.DE fall 4.24% after JP Morgan and Citi downgrade to "neutral" from "overweight" and "buy", respectively

** Both brokers point to the 48% year-on-year fall in U.S. heavy truck orders, which accounted for 38% of sale revenues in commercial vehicles segment last year, according to JP Morgan

** Furthermore, both project a one-year lag in the impact of the German fiscal stimulus on orders for Knorr Bremse brakes

** JP Morgan and Citi also point to the high valuation of Knorr-Bremse shares, which have risen 21% YTD and are outperforming peers

** Knorr Bremse is among the top decliners on the German .MDAXI index

 (Reporting by Simon Ferdinand Eibach)

 ((Simonferdinand.eibach@thomsonreuters.com))