HSBC ups Rational to 'hold' on valuation

Rational AG

04/02/2022 08:58

** HSBC upgrades German kitchen appliance maker Rational
 RAAG.DE  to "hold" from "reduce" citing valuation
    ** After the shares dropped from last year's high, "current
share price level implies realistic long-term assumptions," HSBC
says
    ** Preliminary 2021 results confirm that Rational is "well
on track" to come back to pre-pandemic levels for growth and
margins, it adds
    ** The brokerage expects recovery to continue this year,
with new sales record, though, lagging EBIT margin on higher
costs
    ** Out of 12 analysts, two rate the stock "buy" or higher,
six rate it "hold" and four "sell" or lower


 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))