Vossloh reinstated with a Hold at Jefferies

Jefferies reinstated coverage of Vossloh (VOSSF) with a Hold rating and EUR 76 price target The company showed a softer start to the year with guidance confirmed but also saw encouraging order momentum and record-high order backlog, the analyst tells investors in a research note. Jefferies adds that Vossloh also managed to build a strong pipeline with new projects covering for the shortfall, though the firm resumes coverage of the name at neutral pending more visibility on margin growth as the year progresses.