Munters tracks best day in over 3 years after U.S. order

Munters AB

30/10/2023 09:20

** Shares in Sweden's Munters  MTRS.ST  jump around 13% after
a $137 million data center order 
    ** The order for its SyCool Split dry cooling solution for
data centers will be delivered to a client in the U.S. in 2025
    ** Kepler Cheuvreux upgrades Munters to "buy" from "hold"
after the order, saying it confirms a strong trend the company's
data center business area
    ** Data Center Technologies is expected to generate
above-average earnings growth, as its order backlog increases by
25-30% for the segment, says the broker
    ** The broker expects the order will improve Munter's
competitive position in data centers in Europe, and enable the
company to capitalize on its position in the U.S.
    ** If gains hold, the stock will see its best day since July
17, 2020, when it closed 16.7% higher

 (Reporting by Agata Rybska)
 ((gdansk.newsroom@thomsonreuters.com;))