Duerr jumps on Q2 adjusted EBIT beat
** Shares in Duerr DUEG.DE jump 8.2% after the German machinery maker posted better-than-expected Q2 results on Wednesday
** The firm recorded Q2 adjusted EBIT of 60.9 million euros vs company-complied consensus of 58.3 million euros, down 2.6% y-o-y mainly due to weakness in HOMAG business
** Q2 order intake came at 1.30 billion euros, up 16.1% yoy, triggered by strong demand in the Paint & Final Assembly Systems and Application Technology divisions
** Duerr expects FY order intake at the upper end of the target range of 4,600 to 5,000 million euros and sales at 4,700-5,000 million euros
** "Duerr is well underway to fulfill expectations for 2024 more towards the upper level of the guidance," Baader Helvea said, reiterating its "buy" rating
** Out of 15 analysts that cover Duerr AG, nine rate the stock "strong buy" or "buy", six rate "hold" and no analysts rate the stock "strong sell" or "sell" - LSEG
(Eva Orsolya Papp)
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