Berenberg names 2023 industrials top picks among European mid-caps

Munters AB

18/01/2023 14:02

** Berenberg sees a return to "less shocking times" for
European small- and mid-cap (SMID) industrials stocks, with a
transition into normal cyclical ups and downs from 2023
    ** It expects the market to switch from a recession mindset
to a recovery one this year, but the timing of this shift will
be critical, with a continued downside risk in the meantime
    ** The broker prefers "buy"-rated Alfen  ALFEN.AS , DEME
 DEME.BR , Elis  ELIS.PA , ENCE  ENC.MC , Interpump  ITPG.MI ,
Marel  MARL.IC , SOL  SOLS.MI  and Vidrala  VID.MC  among
industrial and energy transition groups
    ** Berenberg maintains "buy" on resilient business models
Gaztransport et Technigaz (GTT)  GTT.PA , Intercos  ICOS.MI ,
Munters  MTRS.ST , SPIE  SPIE.PA  and Tonnellerie François
Frères  TFF.PA 
    ** It is also bullish on Fluidra  FLUI.MC , ID Logistics
 IDLA.PA , Soltec  SOLPW.MC , STEICO  ST5G.DE , Vetropack
 VETN.S  and Wacker Neuson  WACGn.DE  (all "buy") due to their
strong bounce-back potential
    ** It raises Zignago Vetro  ZV.MI  to "buy" from "hold",
citing its exposure to a number of premium niches and saying it
expects the Italian glassmaker to keep delivering "stellar
top-line growth" of 5-7% per year
 (Reporting by Alessandro Parodi)
 ((alessandro.parodi@thomsonreuters.com))