- (PLX AI) - TCM Group dropped 7% in early trading after the company reported earnings below expectations last night and after a major Nordic bank downgraded its recommendation on the stock.
- • TCM Group 2021 adj. EBIT DKK 138 million, below guidance of DKK 148-160 million and below consensus of DKK 150 million
- • The stock was cut to hold from buy at SEB, with price target cut to DKK 160 from DKK 210
- • We expect headwinds to remain through 2022 and given a lack of share triggers downgrade from buy to hold, SEB said
- • The delayed orders are likely to be delivered during Q1 and provide a small boost to revenue, but this will be more than offset by continued supply chain challenges and elevated raw material prices in 2022, SEB said
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