FRANKFURT (dpa-AFX Broker) - Studies by British investment bank Barclays moved the shares of forklift truck manufacturers Jungheinrich and Kion on Friday. While industry expert Timothy Lee still sees significant upside potential for Jungheinrich in an initial assessment, Kion is already fairly valued in his opinion. Jungheinrich shares recently rose by 2.2 per cent to 29.10 euros as a result of his "Overweight" recommendation, making them one of the favorites on the MDax. Kion shares, which are rated "Equal Weight," initially lost ground, but in the afternoon fought their way up 0.3 percent to 35.68 euros.

This kept Kion's shares above the 100-day line as an indicator of the medium- to long-term trend. They also stabilized towards the end of a previously weak September, at the start of which they were still worth more than 40 euros. Since the beginning of the year, Kion has nevertheless gained a third in value, but last year the shares had also slumped by 72 percent - more than almost any other German standard stock.

Jungheinrich shares have only gained just under 10 per cent this year. Since the high for the year to date of 37.22 euros at the beginning of February, the shares have mainly known the way down. However, with the latest price gains, they are slowly approaching the 21-day line as an indicator of the short-term trend, which runs at around 29.70 euros.

In his studies on Jungheinrich and Kion, Barclays expert Lee focused on the warehouse automation business of the two companies. In general, a bottoming out is becoming apparent here, from which Kion could benefit strongly as the global market leader in the event of a subsequent recovery. A further recovery in orders should take place in 2024, even if Lee does not yet expect such a rapid return to the levels seen before the Corona pandemic. As a result, his estimate for adjusted operating profitability in 2025 remains below consensus expectations.

At Jungheinrich, meanwhile, he sees a lot of potential in the still small but growing warehouse automation division, which has not yet been priced into the market. The acquisition of the Storage Solutions Group announced by the Hamburg-based company in January could increase the value of the business fourfold. Lee also praised Jungheinrich's strong balance sheet, while Kion's debt level is higher than the industry average. He said it will take time for the Frankfurt-based company's profitability to improve./niw/tav/jha/

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