FRANKFURT (dpa-AFX Broker) - Following a sell recommendation by UBS, Brenntag shares are threatening to fall below an important support level on Friday. On Tradegate, the price fell by a good 3 percent to 49.85 euros compared to the previous day's Xetra closing price. Most recently, it had found support at the 50-euro mark. Now it is threatening to hit a low since mid-2021.

Analyst Nicole Manion of UBS wrote that the new CEO, Jens Birgersson, will eventually set new targets to improve profitability. However, these plans are not yet in sight. And because the heads of the Essentials and Specialties divisions are leaving the company in the next two months, Brenntag is currently "still undergoing major changes."/bek/mis

-----------------------

dpa-AFX Broker - trader news from dpa-AFX

-----------------------