Manitou Bf arouses interest ahead of its half-year results
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Analysis published on Tuesday, July 18, 2023
The handling and lifting equipment specialist is in an interesting stock market sequence characterized by the establishment of a fairly clear upward trend in recent weeks.
The Manitou stock is moving inside a bullish channel that leaves no room for doubt. The resistance of 23.70 euros was overwhelmed with ease and we can now ogle quite easily towards the next one, located around 28.10 euros. Until then there is no technical pitfall and the indicators are not overheated either. The value, which was somewhat forgotten by investors and which is characterized despite everything by fairly low trading volumes, is emerging from its torpor as the quarterly results approach.
The group will indeed publish its activity figures for the first half of the year in a few days (July 27 precisely). If the latter come out in the same line as those of the first quarter, there is no reason to stagnate at a valuation of only 10 times the expected profits in 2023.
We believe that the signals remain green on the file, the target of 28.10 euros is far from excessive. It simply corresponds to the high points reached at the start of the year.
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