market value could be at risk, says Berenberg

SFS AG

03/01/2019 07:44

** Shares in SFS Group indicated down 3.6 pct pre-mkt
    ** Berenberg initiates coverage with "sell"
    ** Berenberg says its scenario analysis suggests that more
than 50 pct of co's market value could be at risk
    ** The broker says the investment community is wrong to
expect that future growth and margin expansion will be fueled by
co's technical know-how and high quality of products at this
point in the cycle
    ** Adds that co will struggle to keep its revenues and
profits stable; sees risks from weakening end-market demand and
a shift in volumes in the electronics supply chains away from
China




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