from 602 today
We value MAN on FY28E EV/EBITDA multiple of 6x which, we believe, is conservative, given the significant turnround expected in ROCE, from 7.3% in FY26 to 19.0% by FY29E.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
