- (PLX AI) - Thyssenkrupp shares fell 8% despite a positive third quarter, as the slow turnaround is testing investors patience, analysts said.
- • Free cash flow before M&A will improve to a range from minus EUR 1.2-1.5 billion from minus EUR 5.5 billion last year, the company said
- • This will depend to a large degree on the increase in net working capital in the course of sales growth and will depend strongly on raw material prices, which have risen sharply and are currently highly volatile, Thyssenkrupp said
- • Especially in the second half of the fiscal year, a slowdown in orders for components from our customers in the automotive industry due to the supply situation with semiconductors will temporarily increase net working capital
- • Thyssenkrupp expects a net loss of up to a mid three-digit million euro amount for the year, including restructuring expenses in the mid three-digit million euro range
- • There is deep value in Thyssenkrupp shares, Bank of America analysts said, reiterating a buy rating on the stock, with price target EUR 16
- • However, progress on restructuring carbon steel and the profit recovery in the steel business is disappointing, BofA said
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