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On Thursday, Palfinger (VIE:PALF) AG (PAL:AV) (OTC: PLFRY) shares received an upgrade from Berenberg analysts, changing from Hold to Buy, with a new price target set at EUR32.00, up from the previous EUR24.00. The lift in rating and price target comes as the Berenberg analyst cites signs of recovery in end-market demand, particularly noting a positive shift in Q4 2024 orders.
The analyst pointed out an uptick in sentiment within the construction vertical, which is expected to contribute to the improved performance of Palfinger. This optimism in the market is believed to be a driving factor behind the potential re-rating of the company’s shares. The construction industry’s demand is crucial for Palfinger, a manufacturer known for its lifting solutions, which include cranes and aerial work platforms often used in construction projects.
In addition to the promising market demand, Berenberg also highlighted Palfinger’s focus on improving its margins through self-help measures. These internal initiatives are aimed at enhancing profitability and efficiency within the company, which in turn could lead to a more favorable view of Palfinger stock by investors.
The analyst’s statement emphasized the belief that these factors combined—the rebounding order book in the last quarter of 2024 and the company’s strategic margin improvements—have set the stage for a potential increase in the stock’s value. The new price target of EUR32.00 reflects this anticipated growth and represents a significant jump from the previous target.
Palfinger AG’s stock adjustment follows the company’s efforts to navigate market conditions and internal strategies aimed at bolstering its financial standing. The upgrade and new price target signify a positive outlook for the company, as perceived by Berenberg’s analysis.
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