CSG shares fell as much as 6 percent after a meeting with analysts at which the defense company sought to build greater confidence in its financial targets. Bloomberg News reports.
Jefferies says CSG expects strong ammunition volumes to offset higher copper prices and contribute to achieving its full-year target. The company also sees continued resilient demand in the event of a potential ceasefire in Ukraine. Jefferies has a buy rating on the company.
The same applies to Deutsche Bank, which assesses that CSG’s operational performance is somewhat ahead of plan and points to potential export deals for Tatra chassis in the US.
RBC, meanwhile, believes that the meeting strengthened the view of the company’s market outlook and position. The recommendation is sector perform.
CSG shares have fallen around 40 percent since their listing in January, after becoming subject to short selling while the market has increasingly turned to military technology and drone companies.
