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Investing.com - Berenberg has upgraded Kardex AG (SWX:KARN) from Hold to Buy and raised its price target to CHF375.00 from CHF280.00, citing the company’s strong performance in the first half of 2025.
The Swiss intralogistics solution provider reported double-digit growth in H1 2025, with order intake increasing by 19% and revenues growing by 12% year-over-year, according to Berenberg.
Berenberg noted that Kardex has demonstrated remarkable resilience despite the current demand environment, acknowledging it had underestimated the company’s ability to maintain robust growth.
The investment firm has raised its forecasts for Kardex by approximately 10%, supporting the rating upgrade and higher price target.
Berenberg’s positive outlook for Kardex is based on expectations for sustained double-digit growth, resilient end-markets, and what it describes as an attractive product portfolio.
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