Baader upgrades Heidelberger Druck to 'buy', likes fat backlog
** Baader Helvea upgrades German printing press maker Heidelberger Druckmaschinen HDDG.DE to "buy" from "add", pointing to strong order intake at Q1 results in August
** Its order backlog now stands at 932 million euros ($1.04 billion)
** "This is the basis for very strong revenue generation in 3Q and 4Q24/25 and correspondingly strong profitability," Baader says
** The broker nevertheless cuts its PT on Heidelberger by 12.5% to 1.75 euros citing a general fall in the value of mid- and small cap stocks
** Heidelberger's shares trade at 1.018 euros as of 0700 GMT, up 0.2%
** Of five analysts who cover Heidelberger, three rate it "strong buy", one "buy" and one "hold" - LSEG
($1 = 0.8988 euros)
Reporting by Louis van Boxel-Woolf
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