Why is Lanxess stock sliding today?
© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect Investing.com -- Lanxess stock fell 4.8% to trade at €14.335 after BNP Paribas Exane downgraded the German specialty chemicals company from Neutral to Underperform, assigning a price target of €12.00 — a level that implies meaningful further downside from current prices and signals one of the most bearish stances on the stock among active sell-side analysts. The downgrade arrives in the wake of Lanxess’s August 7 second-quarter earnings release, which showed only modest improvement: group sales rose to €1.561 billion while EBITDA pre exceptionals edged up just 1.3% to €152 million.
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© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect Investing.com -- Lanxess stock fell 4.8% to trade at €14.335 after BNP Paribas Exane downgraded the German specialty chemicals company from Neutral to Underperform, assigning a price target of €12.00 — a level that implies meaningful further downside from current prices and signals one of the most bearish stances on the stock among active sell-side analysts. The downgrade arrives in the wake of Lanxess’s August 7 second-quarter earnings release, which showed only modest improvement: group sales rose to €1.561 billion while EBITDA pre exceptionals edged up just 1.3% to €152 million. More critically, CEO Matthias Zachert stated that there is "no sign of a sustained upturn in demand" in core markets and that no additional economic momentum is expected before year-end, a tone that has weighed on sentiment since the report. The stock had already breached its 50-day moving average on August 13, reinforcing the technical deterioration.
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- © Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect Investing.com -- Lanxess stock fell 4.8% to trade at €14.335 after BNP Paribas Exane downgraded the German specialty chemicals company from Neutral to Underperform, assigning a price target of €12.00 — a level that implies meaningful further downside from current prices and signals one of the most bearish stances on the stock among active sell-side analysts. The downgrade arrives in the wake of Lanxess’s August 7 second-quarter earnings release, which showed only modest improvement: group sales rose to €1.561 billion while EBITDA pre exceptionals edged up just 1.3% to €152 million.
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- 1 outlet, average source rating 6.0/10.
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- just now ago.
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Why is Lanxess stock sliding today?
Sources1TypeCoverageInvesting.com · Stock Market