Diebold Nixdorf Shares Pop On Rating Upgrade: Key Takeaways

Diebold Nixdorf Shares Pop On Rating Upgrade: Key Takeaways
  • Wedbush analyst Matt Bryson upgraded Diebold Nixdorf Inc DBD from Neutral to Outperform with a $5 price target.
  • The projection reflected its strong product order flow and expected easing of supply constraints, which have posed the most considerable headwinds for DBD in recent quarters.
  • Bryson saw DBD well-positioned to grow revenues through 2022 into 2023, assuming "difficult" macro trends alongside the company's cost initiatives to bolster margins.
  • He noted backlog levels were well above historic levels versus expected sales. All of which reflected that Diebold remained at the initial stages of the ramp of its new ATMs and highlighted that the company's products offer customers potential cost savings through personnel replacement in an environment where wages were rising, and workers were difficult to find.
  • Price Action: DBD shares traded higher by 23.10% at $3.07 on the last check Friday.
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