Jefferies analyst Adela Dashian maintained a Buy rating on Munters Group AB today and set a price target of SEK160.00.
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Adela Dashian has given her Buy rating due to a combination of factors that highlight Munters Group AB’s potential for growth and profitability. Despite a slight miss in net sales, primarily due to challenges in the AirTech segment, the company demonstrated strong performance in other areas. The adjusted EBITA exceeded expectations, driven by robust execution in the Data Center Technologies (DCT) segment, which maintained impressive margins.
Additionally, the order intake was a significant positive, showing a 22% year-over-year increase, with strong demand in DCT and contributions from FoodTech. The AirTech segment, although facing some difficulties, managed to achieve a better-than-expected EBITA margin. Management’s commitment to cost-saving initiatives and anticipated margin recovery in AirTech further supports the positive outlook. These factors collectively underpin the Buy rating, suggesting confidence in the company’s strategic direction and financial health.