Order margin, specified guidance drive Kone shares higher
** Shares in Kone KNEBV.HE rise 5% after the release of Q1 report on Wednesday with analysts highlighting stable order intake margin and new guidance
** "We are encouraged to see the margin on orders received stable both qoq and yoy," Jefferies says
** J.P.Morgan echoes that view and adds it was a stronger development than at Schindler SCHP.S
** Both brokers note Kone's specified outlook with Jefferies viewing it as an "encouraging new guidance"
** The group guides for sales to grow 0–5% at comparable exchange rates in 2024, adjusted EBIT margin to be in the range of 11.5%–12.3%
** Kone reported Q1 operating profit of EUR 262 million ($280 million), a tad higherthan the average estimate of 256 million seen in a company-provided consensus
** The stock hit its highest level since February and tops Helsinki blue chip index .OMXH25
Reporting by Jagoda Darlak
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