GS ups Konecranes on US opportunity if new tariff is imposed on Chinese rivals

Konecranes Oyj

01/09/2025 08:55

** Goldman Sachs upgrades Finnish crane manufacturer Konecranes KCRA.HE to "buy" from "neutral", projecting structural growth in its Port Solutions business from U.S. replacement demand

** There is a "structural opportunity for Port upgrades in the US" if a proposed 100% import tariff on Chinese-made ship-to-shore cranes is approved, the broker says

** It notes Konecranes recently said it would establish a network of partners to build a full range of port cranes in the U.S.

** GS also points to the potential for increased cash returns to shareholders by year-end as a further positive catalyst

** Out of the seven analysts covering the stock, six rate it "strong buy" or "buy" and one "hold," according to LSEG data

** Shares in Konecranes rise 5.5% in morning trade, leading gains on Europe's benchmark STOXX 600 index .STOXX

(Reporting by Vera Dvorakova)

((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))