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Investing.com - Berenberg upgraded Beijer Ref AB (ST:BEIJB) stock rating from Hold to Buy on Tuesday, while raising its price target to SEK180.00 from SEK165.00.
The research firm cited Beijer Ref’s resilience in a challenging market environment as a key factor behind the upgrade decision.
Berenberg noted that while short-term organic growth expectations remain demanding, it views this as only a minor headwind against projected earnings growth of 25% over the next two years.
The firm highlighted that Beijer Ref’s valuation has declined 20% over the past 18 months, creating an attractive entry point for investors.
Berenberg now expects that the company’s earnings growth will drive the share price higher, supporting the more bullish outlook reflected in the upgraded rating and increased price target.
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