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Lanxess: UBS still on hold, same TP

(CercleFinance.com) - UBS believes that the outlook implies a moderate increase in EBITDA for 2024.
All said, the analyst remains neutral on the stock, with an unchanged target price of E27, representing upside potential of just 3%.

"4Q23 EBITDA ahead of consensus. Current trading environment expect to remain challenging through 1H24", UBS says.

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, it says.


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