https://www.inderes.fi/research/kalmar-q325-myonteinen-pohjavire-ennallaan
We reiterate our Add recommendation for Kalmar and our target price of 39 euros. The company’s Q3 result slightly exceeded our forecasts, with record-level margins supporting the development, while orders fell short of expectations, driven by the more cyclical equipment side. Services development, on the other hand, was broadly stronger than our expectations. The company’s market comments remained unchanged, and the demand situation has remained stable or good outside of the Americas. Reflecting the overall picture, forecast changes remained minor, and we see the stock’s valuation as attractive when compared to favorable long-term earnings growth prospects.
OP raises target price to 42.00 (40.00) and reiterates BUY
Nordea raises to 44.00 (42.00) and reiterates BUY