- (PLX AI) - Kion rallied after yesterday's guidance upgrade, but then shares fell back down as investors worried that the positive news from the trucks division might be short-lived.
- • The order intake guidance upgrade to EUR 10,650-11,450 million, up from EUR 9,700 - 10,400 million, was solely due to the trucks division, as the SCS segment targets remained unchanged
- • The strong share performance so far this year (up 27% year-to-date) may already have reflected an expected guidance upgrade, analysts said
- • Still, Bank of America raised its price target to EUR 115 from EUR 110 for Kion, reiterating buy
- • The recovery in trucks has been much sharper than expected, and the company's previous outlook was too conservative, BofA said
- • Kion continues to build momentum in the cyclical recovery, but there are procurement risks: BofA