FRANKFURT (dpa-AFX Broker) - Investment bank Stifel upgraded Fuchs Petrolub from "hold" to "buy" and raised its price target from 35 to 42 euros. Analyst Andreas Heine expects a turnaround in sentiment for the sector, according to a report on the European chemicals industry published Friday. The first quarter of the new year should see the bottom fall out and easing electricity and gas costs should help. The first half of 2023 will remain challenging, he said, but low valuations probably suggest limited downside risk. Meanwhile, he sees improved earnings momentum for lubricant manufacturer Fuchs./ck/mis

Publication of the original study: 13.01.2023 / 01:38 / EST E

rst disclosure of the original study: 13.01.2023 / 01:38 / EST

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