FRANKFURT (dpa-AFX Broker) - Investment bank Stifel downgraded KWS Saat from "buy" to "hold" on valuation grounds, although it left its price target at 72 euros. Analyst Andreas Heine expects a change in sentiment for the sector, according to a study on the European chemicals sector published on Friday. The first quarter of the new year should see the bottom fall out, and easing electricity and gas costs should help. In general, diversified chemical stocks should benefit from a better stock market environment, while defensive stocks have little room for positive surprises and are still likely to be weighed down by rising interest rates. With regard to seed producer KWS, he wrote that the narrower gap between the share price and his target price after the sales forecast was raised at the end of September no longer justifies a buy recommendation./ck/tih

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

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

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