RENK Group AG, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Chloe Lemaire from Jefferies maintained a Buy rating on the stock and has a €60.00 price target.
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Chloe Lemaire has given her Buy rating due to a combination of factors including the anticipated robust performance of RENK Group AG in their upcoming Q2 results. The company is expected to achieve a significant revenue growth of 24%, primarily driven by a 35% increase in their VMS segment.
Additionally, there is an anticipated 60 basis points improvement in adjusted EBIT, which is expected to further enhance growth to 29%. Although there is no expected revision to the company’s adjusted EBIT growth guidance of approximately 10-25%, there is potential for upside beyond this range, suggesting a positive outlook for the company’s financial performance.
Lemaire covers the Industrials sector, focusing on stocks such as MTU Aero Engines, Rheinmetall, and Airbus Group SE. According to TipRanks, Lemaire has an average return of 39.7% and a 92.16% success rate on recommended stocks.
In another report released on July 14, Kepler Capital also upgraded the stock to a Buy with a €85.00 price target.