German Stocks: Renk Rises After Buy Recommendation

Shares of the automotive and industrial supplier Renk

Shares of Renk gained ground on Tuesday after analysts at Warburg Research recommended buying the stock. The analysts cited the company's strong order intake and its potential to benefit from the growing demand for electric vehicles.

Minor Chart Movement

Despite the positive analyst recommendation, Renk's stock is still trading below its pre-pandemic levels. The company's shares have been under pressure in recent months due to concerns about the impact of the COVID-19 pandemic on its business.

Analyst Recommendation

In their research note, Warburg analysts set a price target of EUR105 for Renk shares. They believe that the company's shares are undervalued and that there is significant upside potential.

Company Outlook

Renk is a leading supplier of gearboxes, couplings, and other components for the automotive and industrial sectors. The company has a strong track record of innovation and its products are used by some of the world's leading automakers and industrial companies.

Key Points

• Renk shares rise after buy recommendation from Warburg Research.
• Analysts cite strong order intake and potential for growth in electric vehicles.
• Stock still trading below pre-pandemic levels due to COVID-19 concerns.
• Warburg analysts set a price target of EUR105 for Renk shares.
• Renk is a leading supplier of gearboxes, couplings, and other components for the automotive and industrial sectors.