FRANKFURT (dpa-AFX Broker) - Befesa shares have lost more than 9 percent after the quarterly figures. The shares of the recycling specialist thus again approached their annual low of 28.30 euros in February.

Analyst Martin Comtesse of investment bank Jefferies commented that the outlook for the year as a whole appeared cautious, but also left plenty of scope for improvement.

However, market expectations tend to be at the upper end of the forecast operating profit range. However, Comtesse remains confident that Befesa will turn the corner in 2024. His price target is 44 euros./ag/jha/