Lanxess: Stifel confirms TP and buy rating

(CercleFinance.com) - Stifel confirms its Buy rating on Lanxess shares, with an unchanged target price of E31.


The broker believes that Q2 results are at a sustainable earnings level under current market conditions, following the end of Lanxess' destocking.

The exchange rate for H2 2024 translates into an annualised EBITDA of around E0.7bn.

The analyst says that, without macroeconomic tailwinds, the current consensus for fiscal 2025 will be reached.

FCF for FY 2024 is likely to be just around zero, although is expected between E150m and E200m for FY 2025, Stifel concludes.


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