tiprankstipranks

Belimo price target lowered to CHF 481 from CHF 542 at Jefferies

Jefferies analyst Fabian Piasta lowered the firm’s price target on Belimo to CHF 481 from CHF 542 and keeps a Buy rating on the shares. Despite a mixed development in the second half of 2023 due to OEM destocking and FX headwinds, the firm looks optimistic into 2024 and expects a top-line guidance in line with its forecast of +8%. This should be equally fueled by volume growth recovery and price increases alongside the shift towards renovation end-markets to soften the effect of new build weakness. Due to the lower base, Jefferies reduces its EPS estimates by -12%.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on BLHWF:

Disclaimer & DisclosureReport an Issue