Hochtief Benefits from Exposure to Data Centers, Tech

Dow Jones

08/12

1032 GMT - Hochtief's growth has been amped up by exposure to the burgeoning data center and technology segments of the construction market, Deutsche Bank says in a research note initiating coverage of the German company at hold. Despite the neutral stance on the stock, the bank says its blue-sky scenario points to significant upside of more than 45%. Hochtief's Turner is a leading U.S. construction services company recognized for its expertise in managing large, complex projects, including Meta's campus in Indiana, Deutsche Bank notes. The bank sets a target price of 477 euros. Shares trade 2.0% higher at 453.60 euros.

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Despite the neutral stance on the stock, the bank says its blue-sky scenario points to significant upside of more than 45%. Hochtief's Turner is a leading U.S. construction services company recognized for its expertise in managing large, complex projects, including <a href=\"https://laohu8.com/S/META\">Meta</a>'s campus in Indiana, Deutsche Bank notes. The bank sets a target price of 477 euros. 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