Lanxess is down nearly 1% in Frankfurt, as Deutsche Bank today reaffirmed its 'buy' recommendation on the stock, with a price target lowered from 29 to 27 euros, forecasting second-quarter EBITDA up 22% to 131 million euros, against a consensus of 137 million.

This is in line with the company's first-quarter forecasts, according to which it was comfortable with the second-quarter consensus of around 130 million at the time", says the broker in its note on the German chemist.

For the third quarter, Deutsche Bank expects EBITDA of 168 million euros, which is "in line with management's expectations for further sequential improvement, followed by normal seasonality in the fourth quarter".


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