(CercleFinance.com) – While maintaining its ‘neutral’ position on K+S, UBS raised its target price from 20 to 21 euros, a new target roughly in line with the share price of the German supplier of potash and rock salt.
In the summary of its research note, the broker indicates to increase its medium-term estimates ‘to take into account a lower risk on energy costs, in accordance with the proposals of Germany’.
‘The leveling of our target price remains modest given the higher estimates of WACC (weighted average cost of capital) and capital expenditure’, he acknowledges however.
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