Jefferies raised the firm’s price target on Belimo (BLHWF) to CHF 1,052 from CHF 788 and keeps a Buy rating on the shares. The company continues to excel in data centers, giving Jefferies further confidence to raise estimates on the back of the accelerating Blackwell rollout whilst recovery in the Original Equipment Manufacturer channels points towards a more friendly environment in the EU, the analyst tells investors in a research note. Despite challenging valuation levels, the firm increased its price target as it expects to see further upgrades, primarily from shift in mix and operating leverage.
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