JP Morgan cuts TP for Denmark's Rockwool amid Russia business concerns

Rockwool A/S

14/02/2025 10:15

** J.P. Morgan cuts TP for Danish mineral wool producer
Rockwool  ROCKb.CO  to DKK 2,760 ($387.73) from DKK 2,810
    ** Brokerage cites Russia business concerns and key energy
inputs volatility
    ** JPM cuts its FY 2025 EBIT estimates for Rockwool by 3% to
EUR 642 million ($672.69 million)
    ** Says there are "renewed concerns and uncertainty" around
Rockwool's ongoing business in Russia and questions whether its
presence there will affect its ability to benefit from potential
rebuilding of Ukraine
    ** There is also volatility in key energy inputs, such as
natural gas, JPM says, though Rockwool has hedged 40% of its H1
needs and a bit less for H2
    


($1 = 7.1184 Danish crowns)
($1 = 0.9544 euros)

 (Reporting by Vera Dvorakova)
 ((vera.dvorakova@thomsonreuters.com))