Osram: UBS, Berenberg cut target price

(CercleFinance.com) - It is too early to turn constructive on German lighting group Osram, UBS analysts said on Monday.


The brokerage firm has cut its target price for the stock from 40 euros to 37 euros, while retaining a "neutral" rating on the share.

"The question whether consensus has de-risked sufficiently largely depends on the outcome of the first quarter of 2019," UBS wrote in a note to clients, adding that the next quarter will be "more decisive" than the last.

Analysts at Berenberg also cut their target price for the share, now looking for 38 euros - from 40 euros previously - agreeing that 2019 will be "another year of challenges." The broker has a "hold" rating on the shares.

The Osram stock was down 3.4% at 33.3 euros in Frankfurt after these comments.

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