Baader Bank keeps Jungheinrich on 'Add' - target 39 euros

Baader Bank has reaffirmed its "Add" rating for Jungheinrich shares and set a price target of 39 euros.

Analyst Peter Rothenaicher wrote in a research note published Tuesday that he believes Jungheinrich is well-positioned to benefit from the ongoing trend towards automation and digitalization in the logistics sector.

Rothenaicher highlighted Jungheinrich's strong market position, its innovative product portfolio, and its focus on cost efficiency as key factors supporting his positive view of the company.

The analyst also noted that Jungheinrich's recent acquisition of robotics specialist arculus will further strengthen its position in the growing market for automated intralogistics solutions.

Overall, Rothenaicher believes that Jungheinrich is a well-managed company with a strong track record of growth and profitability.

He believes that the company's shares are currently undervalued and that there is significant upside potential in the stock.

Jungheinrich shares are currently trading at around 30 euros, which is below Rothenaicher's target price of 39 euros.

The analyst's positive view of Jungheinrich is supported by the company's recent financial results.

• In the first half of 2023, Jungheinrich reported a 10.5% increase in revenue to 2.2 billion euros.
• The company's earnings before interest and taxes (EBIT) rose by 12.2% to 159.1 million euros.
• Jungheinrich also increased its order intake by 11.2% to 2.6 billion euros.

These results show that Jungheinrich is continuing to grow and that the company is well-positioned to benefit from the ongoing trend towards automation and digitalization in the logistics sector.