Georg Fischer AG, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Martin Comtesse from Jefferies maintained a Buy rating on the stock and has a CHF82.00 price target.
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Martin Comtesse has given his Buy rating due to a combination of factors surrounding Georg Fischer AG’s strategic divestment. The company recently announced the sale of its Casting Solutions division to Nemak, which is a significant move towards focusing on its core Flow Solutions business. This transition is expected to enhance the company’s earnings stability and profitability in the long term.
Although the sale price was slightly below market expectations, it is important to note that certain assets were not included in the transaction. The divestment marks the completion of Georg Fischer AG’s shift to a more resilient business model. Despite a one-time non-cash book loss resulting from the sale, the company’s strategic realignment is anticipated to yield better financial outcomes in the future.
In another report released on July 28, Berenberg Bank also maintained a Buy rating on the stock with a CHF85.00 price target.