We initiate coverage of Knaus Tabbert with a ‘BUY’ recommendation and target price of €87.9/share, implying a c.29% upside. Our positive stance is backed by the strong demand for recreational vehicles which has been triggered further by the successive lockdowns due to the COVID-19 pandemic. Benefiting from a strong German exposure, modular production facilities and a sound management of brands, Knaus Tabbert is well-equipped to concretise its scaling-up strategy. The healthy ROE and well-defined ....
20 Sep 2021
Scaling-up the business on the motorhome boom
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Scaling-up the business on the motorhome boom
We initiate coverage of Knaus Tabbert with a ‘BUY’ recommendation and target price of €87.9/share, implying a c.29% upside. Our positive stance is backed by the strong demand for recreational vehicles which has been triggered further by the successive lockdowns due to the COVID-19 pandemic. Benefiting from a strong German exposure, modular production facilities and a sound management of brands, Knaus Tabbert is well-equipped to concretise its scaling-up strategy. The healthy ROE and well-defined ....