Jefferies ups Wacker Neuson to 'buy' on outperforming Q4 results and optimistic outlook

Wacker Neuson SE

21/02/2022 08:55

** Jefferies upgrades German construction machines maker
Wacker Neuson  WACGn.DE  to "buy" from "hold" citing
outperforming Q4 preliminary results and positive FY22 outlook
    ** With both preliminary Q4 sales (9% beat) and EBIT (40%
beat), FY21 results turned out to be better than many expected,
the brokerage says
    ** The company also released FY22 guidance for revenues of
1.9-2.1 billion euros (7% growth) at an estimated EBIT margin of
9.0-10.5%  urn:newsml:reuters.com:*:nASN002406
    ** Jefferies sees Wacker Neuson  WACGn.DE  as
well-positioned company with good top line growth potential
particularly from increasing demand in the US and Europe
    ** "In FY22 we expect order momentum from big US rental
chains to be a key driver for Wacker Neuson's recovery," the
broker adds
    ** Out of 7 analysts, six rate the company "buy" or higher
and one rates it "strong sell"
    ** Shares of Wacker Neuson  WACGn.DE  are up 4.9% and stock
is on top of the German small cap index  .SDAXI 

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))