SFS: Shares jump as company flags H2 improvement

SFS AG

19/07/2019 09:33

** Shares in Swiss fastening systems maker SFS  SFSN.S  are
up 6.5%, on track for their best day ever, after the group
slightly raised its second-half outlook following weaker H1
results
    ** The group raised its FY sales growth guidance from
previously announced 3-5% to 3-6%, despite expecting volatile
environment and trade tensions to persist in H2
    ** Credit Suisse says it believes SFS shares are far from a
reasonable valuation, adding that evidence pointing to a
stabilization in H2 2019/H1 2020 could support the broker's
positive investment case
    ** "While H1 performance did not completely match Street
expectations, we continue to rate the shares Outperform", the
broker says


 ((Linda.pasquini@tr.com))