Warburg ups Norma Group to 'buy' on expected margin recovery

Norma SE

22/04/2024 09:25

** Warburg Research upgrades Norma Group  NOEJ.DE  to "buy"
from "hold", citing higher confidence in the German automotive
and industrial supplier's margin improvement
    ** The clamps and connectors manufacturer shows efficiency
improvements and a shift towards a more favourable business mix,
says the broker
    ** It adds Norma shows potential for recovery in its
Industry Applications segment, in addition to the expected
margin improvement with Mobility and New Energy customers
    ** Warburg also expects the expansion of the Water
Management business to significantly improve profitability in
the medium to long term
    ** Norma shares jump more than 8% in early trading
    ** Six out of 10 analysts rate the stock "strong buy" or
"buy", with four at "hold"

 (Reporting by Isabel Demetz)
 ((Isabel.demetz@thomsonreuters.com))