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Schindler Holding AG

SCHN: XSWX (CHE)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
CHF 324.00WhgHpcscfc

Schindler Earnings: Aftermarket Orders Remain Robust and Offset Still-Weak New Equipment Demand

Our CHF 220 per share fair value estimate is intact and our 2024 estimates for wide-moat Schindler remain largely unchanged, with the group’s first-quarter trading performance tracking broadly in line with our full-year expectations. First-quarter order intake of CHF 2.8 billion represented a 2.5% constant-currency increase year on year, broadly in line with our full-year expectations for 2.7% constant-currency order growth in 2024.

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