(CercleFinance.com) – Stifel maintains its ‘buy’ recommendation, but reduces its price target on the share price of the German specialty chemicals company Lanxess from 50 to 45 euros, due to the reduction in estimates for 2023, with an EBITDA which should according to him come out slightly down.
‘The third quarter EBITDA should be equivalent to that of last year’, notes the broker for whom the positive effects of the scope and exchange rates ‘compensate for the macroeconomic headwinds’.
“We think the depressed valuation offers strong upside potential, as several factors can change sentiment towards the stock”, judges Stifel, citing in particular the consolidation of IFF Biocides, destocking and lower material costs. raw.
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