Landis+Gyr set for best day in 6 mths on U.S. deal
05/07/2021 08:03
** Landis+Gyr LANDI.S stock is seen up 2-8% in pre-market
indications after the maker of meters for utility companies
announced a contract with U.S. National Grid on Friday evening
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** The 20-year contract is one of the four projects with a
total volume of over $1 bln that the company has talked about
since late 2019 before the pandemic broke out
** According to JP Morgan and Credit Suisse, the
long-awaited deal should be worth over $300 mln and put
Landis+Gyr in a good position for future contract awards by
National Grid
** JPM adds it expects deployment to start in 2023 and run
over four years, providing a high double-digit annual revenue
contribution
** Landis+Gyr is seen on top of Switzerland's mid cap index
.SMIM
(Reporting by Zuzanna Szymanska)
((zuzanna.szymanska@tr.com))