Lanxess: UBS lowers target price
(CercleFinance.com) - The analyst believes that increased demand remains necessary to meet targets.
It confirms its neutral recommendation on the stock, but lowers its TP for it to E24 (from E28), although this still represents 6% upside potential.
"Our Q2 EBITDA estimate is 3% below consensus but think there is limited chance of a FY24 guidance downgrade at this point", UBS says in its daily comments.
For FY 2024, Lanxess expects EBITDA before exceptional items to be slightly higher than in 2023. However, earnings will remain well below the average level of previous years, Lanxess said.
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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.
It confirms its neutral recommendation on the stock, but lowers its TP for it to E24 (from E28), although this still represents 6% upside potential.
"Our Q2 EBITDA estimate is 3% below consensus but think there is limited chance of a FY24 guidance downgrade at this point", UBS says in its daily comments.
For FY 2024, Lanxess expects EBITDA before exceptional items to be slightly higher than in 2023. However, earnings will remain well below the average level of previous years, Lanxess said.
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.