Lower energy prices to boost Rockwool, JPM ups to 'neutral'

Rockwool A/S

06/02/2024 09:50

** J.P.Morgan raises Rockwool  ROCKb.CO  to "neutral" from
"underweight", as it expects the Danish mineral wool maker to
benefit from energy deflation and resilient pricing 
    ** The broker says Rockwool screens as one of the biggest
beneficiaries of lower energy prices in its coverage, while its
valuation remains undemanding
   ** However, JPM refrains from raising the rating to
"overweight", saying the group's Russia exposure limits interest
from long-only investors and may raise some environmental,
social and corporate governance (ESG) concerns
   ** "Looking into FY results on Wednesday, we expect
Management will be cautious on guidance," it says, adding this
would be largely expected but could leave the shares prone to
volatility on the day
    ** Rockwool shares are up 1.8% as of 0938 GMT

 (Reporting by Agnieszka Oleńska)
 ((Agnieszka.Olenska@thomsonreuters.com;))