Schindler upgraded to Buy from Hold at Jefferies

Jefferies upgraded Schindler to Buy from Hold with a price target of CHF 240, up from CHF 205. The company’s new installation orders “are past the worst” and there are “clear signs of troughing in construction confidence,” the analyst tells investors in a research note. The firm sees Schindler sustainably outperforming peers in China thanks to high exposure to tiered cities and infrastructure.