Handelsbanken repeats its Buy rating and 12-month price target of SEK 93 for tiltrotator company Engcon. The bank expects revenue to increase 19.7 percent and operating profit by 38 percent in the third quarter, which is 6 and 9 percent above consensus, respectively.
EBITA forecasts for 2026–2028 are raised by 1–4 percent. The bank sees a recovery in Europe and expects the operating margin to reach 21 percent in 2027.
The valuation is considered attractive, with an EV/EBIT multiple of 15.7 for 2028.
