Alfa Laval: share price falls, analyst upgraded to Sell
January 12, 2024 at 06:53 am EST
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Alfa Laval's share price has fallen by almost 2.5% following a negative analysis by UBS.
UBS has lowered its recommendation on the stock to Sell (from Neutral), with a price target lowered to SEK 334 (from SEK 430), representing a potential downside of 13% from the current price.
' After a 55% outperformance of the share over the last three years, we see 2024 as a transition year and expect Alfa to underperform as orders take a breather' says UBS.
For the first nine months of the year, Alfa Laval's sales came to SEK 45,759 million (vs. SEK 35,651 million a year earlier), with adjusted EBITA of SEK 7391 million (vs. SEK 5709 million a year earlier) and net income of SEK 4811 million (vs. SEK 3309 million a year earlier).
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Alfa Laval AB specializes in the design, manufacturing and marketing of equipment and industrial systems for heating, cooling, separating and transporting of substances (oil, water, chemical and food substances, drinks, drugs, etc.). The activity is organized mainly arounf two families of products:
- solid and liquid treatment systems: systems for cooling, evaporation, extraction, drying, etc. intended primarily for the food processing, pharmaceutical, petrochemical, and energy sectors;
- production process equipment: decanters, heat exchangers, pumps, valves, air and liquid filtration systems, etc.
Net sales are distributed geographically as follows: Sweden (2.2%), Europe (32.5%), China (14.1%), South Korea (5.5%), Asia (18.2%), United States (16.7% ), North America (2.1%), Latin America (5.6%), Africa (1.9%) and Oceania (1.2%).
ALFA LAVAL AB 
