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Stifel upgrades Jenoptik seeing good entry point ahead of Q3



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** Stifel upgrades Jenoptik to "buy" from "hold" after the German optical electronics group's shares slumped recently and expecting "solid" Q3 results and "supportive" comments during capital markets day

** "We regard the 31% slump the stock felt in three months a good entry point," Stifel says, noting the wider TecDAX index lost 14% in that timeframe

** The broker sees Jenoptik reporting Q3 sales at 272 mln euros, about the level in Q2 and EBITDA of 54 mln eurosvs 55 mln euros in Q2 on Nov. 9, with the company keeping its outlook unchanged

** It expects updated strategy during the company's CMD on Nov. 30-Dec. 1, and CEO continuing rather positive tones he already voiced earlier this year

** Additionally, the broker likes the company's order reach of about 8 months, which it says should hold until Dec. 31 and the company's return to earning the capital cost as of this year again

** Out of 14 analysts that cover Jenoptik, 12 rate the stock "strong buy" or "buy," and​ two rate it "hold" - LSEG data

** Shares in Jenoptik are up 6.5% at 1016 GMT



Reporting by Mateusz Dobrzyniewski

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