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Investing.com - Berenberg has reduced its price target on Jungheinrich AG (ETR:JUNG_p) (ETR:JUN3) to EUR46.00 from EUR50.00 while maintaining a Buy rating on the stock.
The German material handling equipment manufacturer reported solid second-quarter results that exceeded consensus EBIT expectations by 3%, while orders and revenues were in line with market anticipations.
Despite the earnings beat, Berenberg noted that Jungheinrich’s more cautious outlook commentary and several one-off factors affecting its fiscal year 2025 results overshadowed the positive quarterly performance.
The research firm highlighted that challenging market conditions continue to pressure pricing across the industry, which supports management’s decision to implement a restructuring program expected to deliver EUR100 million in savings from 2027.
Berenberg maintained its Buy recommendation on Jungheinrich shares, stating that the stock remains attractive at current levels despite facing short-term challenges.
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