'Prolonged stagnation expected': Kepler cuts LEM to 'hold'

Lem Holding SA

23/05/2025 12:55

** Kepler Cheuvreux downgrades Swiss electrical measurement solutions manufacturer LEM LEHN.S to "hold" from "buy" as it expects a "prolonged stagnation" for revenues

** The broker cites weakness in all end-markets resulting in low sales and order levels

** Kepler notes initial signs of positive effects from the "Fit for Growth" restructuring programme, as EBIT margin excluding one-off costs is expected in high-single-digit range

** However, LEM's management is expecting revenues to only pick up towards the end of the year, which implies a delay in recovery projections, the analysts say

** Four out of five analysts rate LEM as "strong buy" or "buy", with ​one at "hold"

 (Reporting by Simon Ferdinand Eibach)

 ((Simonferdinand.eibach@thomsonreuters.com))