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SRH AlsterResearch AG Update: Rational AG - Weak 2021 outlook

SRH AlsterResearch AG Update: Rational AG - Weak 2021 outlook

Nachrichtenquelle: AlsterResearch AG
24.02.2021, 15:38  |  151   |   |   

Rational posted a weak outlook for 2021 with only marginal sales growth expectations and flat yoy EBIT margins.

Rational AG (Update), Industrial Goods & Services
MCap EUR 8.1bn; SELL, PT EUR 500.00 (downside 30%)


Link: Rational AG_update

Please note that AlsterResearch publishes MiFID II compliant research only. For a detailed discussion on MiFID II, please visit www.research-hub.de

Rational posted a weak outlook for 2021 with only marginal sales growth expectations and flat yoy EBIT margins. The main reason for the lower than consensus forecast outlook, has been the unpredictability of easing or tightening Covid-19 restrictions, which continue to unsettle its customers, i.e. mainly the hotel and restaurant customer groups. Whilst we have no doubt about the long-term growth outlook of Rational as well as its strong competitive positioning, we believe that the rebound from the sharp 2020 drop will take longer than initially anticipated. We therefore remain cautious as current valuation (EV/EBIT 2023E 37x) already reflect a swift improvement in earnings. SELL, PT EUR 500.00

Rational Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de

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Disclaimer

SRH AlsterResearch AG Update: Rational AG - Weak 2021 outlook Rational posted a weak outlook for 2021 with only marginal sales growth expectations and flat yoy EBIT margins. The main reason for the lower than consensus forecast outlook, has been the unpredictability of easing or tightening Covid-19 restrictions, which continue to unsettle its customers, i.e. mainly the hotel and restaurant customer groups. Whilst we have no doubt about the long-term growth outlook of Rational as well as its strong competitive positioning, we believe that the rebound from the sharp 2020 drop will take longer than initially anticipated.

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