- Pressemitteilung BoxID 687416
Metzler: Clear BUY recommendations for economic winners Deutz, Wacker Neuson and Jungheinrich
However, the outlook for the specific VDMA sectors varies widely. “We currently prefer companies from late-cyclical industries. We recommend avoiding areas that are currently less likely to benefit from the economic upswing due to currency effects, competition or structural problems.” This includes mainly producers of food and packaging machinery but also producers of printing machinery like Heidelberger Druck and Koenig & Bauer – stocks that Terzic recommends selling.
In contrast, the analyst sees above-average growth in late-cyclical sectors like Construction Equipment, Material Handling & Intralogistics, and Agricultural Machinery where demand growth is the highest. The companies Terzic recommends are active in these sectors. Deutz AG achieves 65% of its sales in these three sectors. “Operating profit is likely to double by 2019“, says Terzic. Until now, the share has been undervalued; Terzic sees its fair value at EUR 8.70 per share. Like Deutz, Wacker Neuson SE is a newcomer to Metzler’s coverage list and can be recommended at a price target of EUR 32 per share – also due to the good economic situation in Construction Equipment and Agriculture Machinery. The BUY recommendation for shares in Jungheinrich (price target: EUR 43) is based mainly on the company’s strong position in Material Handling, a sector likely to benefit from structural stimulus due to automation.
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