FLSmidth Too Expensive, Handelsbanken Says; Shares Slide

• (PLX AI) - FLSmidth has good growth potential but is too expensive, analysts at Handelsbanken said, reiterating a sell recommendation on the stock.
• • Shares slipped 1% in early trading
• • Current FLSmidth multiples leave limited potential until 2023, Handelsbanken said
• • Although the demand trends in the mining sector look promising, we can't ignore the challenges in FLSmidth's cement division: Handelsbanken
• • Price target DKK 220 implies 10% downside