Redeye: Nekkar - H1 Review – Uncovers Hidden Values
Redeye makes mixed estimate revisions on the back of Nekkar’s H1’24 report that beat our EPS forecast. We argue that the outlook remains solid with high tendering activity despite a softer Q2’24 order intake for Syncrolift. Driven by two divestments in FiiZK, which likely will reveal some hidden values, and by a value accretive acquisition of Globetech, we slightly raise our base case valuation.
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