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Investing.com - Berenberg downgraded Munters Group (ST:MTRS) (OTC:MMNNF) from Buy to Hold and lowered its price target to SEK140.00 from SEK200.00, citing uncertainty in the data center market.
The downgrade comes as Berenberg analyst coverage transfers to Simon Jonsson, who highlighted that data center capital expenditure outlook represents the most significant driver for Munters’ revenues, earnings, and market sentiment.
Given limited visibility on data center spending trends, Berenberg has adopted a neutral stance on the climate control solutions provider, resulting in the rating reduction and 30% price target cut.
The research note also examined technology risks within Munters’ Data Centre Technologies (DCT) segment and assessed what sustainable margins might look like for this business unit.
Additionally, Berenberg’s analysis explored normalized battery demand within the company’s AirTech business segment and discussed the trajectory of margin recovery in that division.
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