Pareto Securities raises its target price for metrology company Hexagon in an analysis that underlines expectations of improved market conditions in 2025.
"We see a cyclical upturn in markets in 2025, together with a return to stable growth with potential upside via product launches and the spin-off, as reasons to increase exposure to one of our top picks for 2025," the research house writes.
The new target price is SEK 145 (140). Buy is reiterated.
Hexagon AB specializes in the design, manufacture and marketing of equipment and information systems for geospatial and industrial applications. The group's activity is organized around 2 product families
- metrology systems : stationary and portable measuring equipment, coordinate measuring machines, laser plotters and scanners, etc. The group also offers computer-aided design, manufacturing and engineering software ;
- geospatial solutions : sensors, laser scanners, GPS systems, motorized air vehicles, mobile mapping systems, satellite geolocation systems, etc. The products are intended especially for the sectors of inspection, construction and infrastructure, natural resources, and public security.
Net sales are distributed geographically as follows: Europe/Middle East/Africa (34.6%), Americas (38.7%) and Asia (26.7%).
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