contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Analyst

Erkki Vesola

Kone is a manufacturer of elevators, escalators and automatic doors. Other related products and systems provided by the company include barriers, docking systems and traffic gates. The company's products are sold in all global regions through authorized distributors. Kone was founded in 1910 and is headquartered in Espoo.

Here are Aapeli’s comments from the analyst call organized by KONE, which specifically focused on the TK Elevator situation.  KONE organized a Q&A call for analysts on Wednesday, focusing on the TK Elevator merger. Some additional information regarding the merger was provided during the call. The most significant piece of information was that the company estimates it will have to make some divestments, but these will have no impact on the targeted synergies. Otherwise, the main points at this stage of the process remained largely unchanged. The call has no immediate impact on our forecasts or our view of the company.                   Inderes – 28 May 26              TK Elevator -järjestely keskiössä KONEen analyytikkopuhelussa - Inderes    KONE järjesti keskiviikkona analyytikoille kysymys-vastaus-puhelun, joka painottui TK Elevator -yhdistymiseen.

True. June’s extraordinary general meeting and especially Kone’s Q2/Q3 earnings releases will provide analysts and investors with the additional information they need. The stock and its risks are currently being repriced, but I believe the greatest selling pressure from institutions (instikot) will be over, at least momentarily, after the coming week. Will the support level for the stock then be 50–51 euros? I believe so, even if we briefly dip lower than that.

Most analysts have not yet updated their public recommendations. The simplest explanation is that the announcement of the merger did not, after all, include any major, obvious change that would have immediately shifted views in any specific direction. One interpretation is that if the merger is not a positive driver, it must be a negative one.

Yesterday, May 8th, institutional selling continued, and Kone’s share price closed at 51.14 euros. Now we wait to see if the support level will hold at 51 euros next week—meaning, whether enough buyers will step in at that level. The stock is currently being repriced by the big “players.” I believe we are certainly quite close to the bottom, even if we momentarily dip lower.

Yesterday, May 7th, institutional investors (instikat) started selling Kone more heavily towards the evening. For now, the support level has held at 52 euros. Let’s see if it stays there or if we still drop to the 50–51.5 levels.

I wonder if it might be the case that in many analysts’ recommendations, the risks of the coming years are given a heavy weight, while some are projecting all the way out to the 2030s.

Here is the company report on Kone from Aapeli following the Q1 results and the mega-deal  We reiterate our Reduce recommendation for KONE and our target price of EUR 56. The company’s Q1 result was in line with expectations, but the main focus was on the historic merger with TK Elevator. We find the industrial logic of the deal very clear, but there is uncertainty regarding its final form and schedule due to competition authority proceedings. Furthermore, if the merger is realized, a massive integration process still lies ahead. In our view, the situation is a balancing act between increased long-term potential and medium-term risks. Looking at the big picture, we believe the risks and, on the other hand, the neutral valuation of the independent KONE weigh in the balance.                   Inderes              KONE Q1'26: Historiallinen harppaus huipulle vaatii tasapainoilua - Inderes    Yhtiön Q1-tulos oli linjassa odotusten kanssa, mutta päähuomion vei historiallinen yhdistyminen TK Elevatorin kanssa.

Kone

The worsening problems in China's real estate sector have led us to significantly cut our estimates for 2023-2024. 

<p>The worsening problems in China's real estate sector have led us to significantly cut our estimates for 2023-2024. </p> 

	2021	22e	23e
Revenue	10,514.1	10,887.6	10,760.0
growth-%	5.8 %	3.6 %	-1.2 %
EBIT (adj.)	1,309.8	1,138.7	1,275.9
EBIT-% (adj.)	12.5 %	10.5 %	11.9 %
EPS (adj.)	1.98	1.70	1.89
Dividend	2.10	1.70	1.70
Dividend %	3.3 %	3.3 %	3.3 %
P/E (adj.)	31.8	30.2	27.1
EV/EBITDA	19.7	18.2	15.7

KONE: Weakened China outlook eats into upside

Key Estimate Figures2022-08-30

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