- (PLX AI) - Kone shares fell more than 5% in early trading after Goldman Sachs cut their recommendation on the stock to sell from neutral.
- • Price target EUR 44
- • Kone's valuation is high and at risk in a rising rate environment, Goldman said
- • Meanwhile, there are risks from China's property market downturn and Kone's margins are likely to lag the sector and its own long-term targets, the analysts said
- • Berenberg also cut Kone to hold from buy today, saying it was unrealistic that it could recapture the high multiples it traded at in recent years
- • Price target EUR 50
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