On Friday, Berenberg adjusted its stock price target for Munters Group (MTRS:SS), a global leader in energy-efficient air treatment solutions. The new price target is set at SEK200.00, down from the previous SEK215.00, while the firm retains a Hold rating on the stock.
The revision follows a sell-off of Munters shares after the company reported its third-quarter results in late October. The analyst from Berenberg cited the poor performance of the AirTech segment as a primary reason for the adjustment. A weak lithium-ion battery market is anticipated to negatively impact Munters' growth and profitability.
Moreover, the firm expressed caution regarding the future growth of the data centre sector, a key market for Munters. The analyst pointed to the insufficient order intake momentum as a reason to doubt that significant growth could be sustained beyond 2025.
The stock price target revision is based on estimate revisions, reflecting the analyst's concerns about the company's segments that are currently facing market challenges. Munters Group's financial health and market position will continue to be monitored by investors as these industry dynamics evolve.
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