Hexagon AB initiated with a Buy at Stifel

Stifel initiated coverage of Hexagon AB with a Buy rating and SEK 130 price target. Hexagon is exposed to fast-growing markets and benefits from global megatrends; it has a “unique state-of-the-art hardware and software product portfolio; and its ever-growing software exposure, paired with strong execution, has consistently delivered high-single to low-double digit adjusted EBIT growth, which the firm believes should be sustained under current management, the analyst tells investors.