PARIS (dpa-AFX Broker) - French major bank Societe Generale (SocGen) upgraded Kion to "buy" from "hold" and raised its price target to 45 euros from 26 euros. After a difficult 2022, risks to near-term margin expectations are now defused, analyst Debashis Chand wrote in a research note issued Thursday. Investors are likely to gradually refocus on long-term growth opportunities in warehouse automation, where Kion is advantageously positioned, he added. Kion will probably avoid a capital increase. Supply chain bottlenecks are easing and free cash flow is improving, so Kion should reduce debt in 2023. The analyst sees a favorable entry opportunity in the stock./ajx/jha

Publication of the original study: 11.01.2023 / 19:00 / CET

First disclosure of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

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