Exane Ups Kone to Outperform, Says ‘Underperformance Has « Finnish-ed »‘

Per today’s report:

« Momentum in industrial leading indicators has stalled; in such a scenario, Kone’s defensive business model looks increasingly attractive. We see relative earnings momentum improving as we progress through FY18e; this, coupled with valuation support from the best dividend yield in the Sector and one of the highest FCF yields within our large cap coverage, supports our upgrade to Outperform. »

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