Knorr-Bremse AG is close to a major resistance level, whereby the breach of this level could be considered as a buy signal. This reflects our preferred scenario in light of the stock's current technical chart pattern. Investors have an opportunity to buy the stock and target the € 119.
In a short-term perspective, the company has interesting fundamentals.
There is high visibility into the group's activities for the coming years. Outlooks on future revenues from analysts covering the equity remain similar. Such hardly dispersed estimates support highly predictable sales for the current and upcoming fiscal years.
Sales forecast by analysts have been recently revised upwards.
For the last week, the earnings per share forecast has been revised upwards. According to recent estimates, analysts give a positive overview of the stock
Within the weekly time frame the stock shows a bullish technical configuration above the support level at 91.5 EUR
The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.
The stock is close to a major daily resistance at EUR 108.94, which should be gotten rid of so as to gain new appreciation potential.
With relatively low growth outlooks, the group is not among those with the highest revenue growth potential.
The group usually releases earnings worse than estimated.
With a 2020 P/E ratio at 37.31 times the estimated earnings, the company operates at rather significant levels of earnings multiples.
The appreciation potential seems limited due to the average target prices set by the analysts covering the stock.
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