2025-06-13-Jefferies-中型股亮点_17页_644kb

报告摘要

DRW3 (Drägerwerk): Price target raised to €67 due to enhanced cost focus, but mid-term concerns persist. Q1 sales were weak, leading to a 2% sales revision; EBIT estimates increased by 5-7%, driven by improved product mix and pricing.
Do&Co: Strong Q4 FY2024/25 results with sales of €524m (+14% YoY), exceeding estimates; EBIT margin improved to 8.4%, driven by higher kitchen utilization and cost management.
InPost: Ongoing restructuring of Yodel unit, targeting break-even on a run-rate basis by FY25; EBITDA losses reduced through depot rationalization and overhead cuts.
Key Events: Invitation to Swiss Mid-Cap Industrials tour (July 2-3) covering VAT, Inficon, Accelleron, and Burckhardt Compression; fireside chat with Bechtle CEO on June 17 to discuss IT services and public sector markets.
Holdings & Upsgrades: Analysts maintain Buy/Hold ratings on companies like Allfunds and Vimian, with a focus on private capital strategies and divestitures.

Healthcare: Demant acquires KIND Group for strategic growth in hearing care; Elekta appoints new CEO amid execution challenges; Vimian expands dental portfolio via acquisition.
Energy/Utilities: Centrica updates Sizewell C project analysis; OUT1V outlines long-term growth strategy; OCI completes methanol sale.
Financials: Allfunds CEO transition addresses market concerns; GCP Infrastructure focuses on disposals; SEIT faces refinancing delays impacting deleveraging.
Industrials: Balfour Beatty benefits from UK infrastructure funding; AkzoNobel monitors paint pricing trends; Bellway confident in housing market recovery.
Technology: Alphawave Semi targeted for acquisition by Qualcomm; GB Group evaluates digital identity strategy.
Investment Insights: Analysts recommend Buy for growth-oriented firms, Hold for those with mid-term risks, and Underperform for uncertain businesses; key factors include cost management, market competition, and regulatory approvals.