Lanxess: Deutsche Bank maintains 'buy' rating, reduces target
(CercleFinance.com) - Deutsche Bank reaffirms its 'buy' recommendation on Lanxess shares, while lowering its target price for them from E29 to E27, expecting Q2 EBITDA to increase 22% to E131m, against a consensus of E137m.
"This is in line with the company's guidance at Q1 that it was comfortable with Q2 consensus which was ~E130m at the time," the broker says about the German chemist.
For the third quarter, Deutsche Bank expects EBITDA of E168m, which "is in line management's guidance for a further sequential improvement in Q3 then normal seasonality in Q4".
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
"This is in line with the company's guidance at Q1 that it was comfortable with Q2 consensus which was ~E130m at the time," the broker says about the German chemist.
For the third quarter, Deutsche Bank expects EBITDA of E168m, which "is in line management's guidance for a further sequential improvement in Q3 then normal seasonality in Q4".
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.