Kepler upgrades Schindler as bearish tariff scenario increasingly unlikely

Schindler Holding AG

21/07/2025 13:50

** Kepler upgrades Swiss elevator and escalator manufacturer Schindler SCHP.S to "hold" from "reduce", saying the previously expected bearish scenario from the Trump tariffs is increasingly unlikely

** Brokerage adds there is renewed growth in the U.S. commercial construction market and that Schindler had strong Q2 intake net income growth in the Americas

** Kepler also expects Schnindler's cost savings from efficiency gains to be higher than previously anticipated

** The company reported decline of 5.7% in Q2 earnings on Friday, driven by strength of Swiss franc, but above estimates

** Out of 15 analysts covering Schindler, five rate it "strong buy" or "buy," seven "hold" and three​ "strong sell" or "sell" - data compiled by LSEG

($1 = 0.7988 Swiss francs)

 (Reporting by Cian Muenster)

 ((Cian.muenster@thomsonreuters.com))