NEW YORK (dpa-AFX Broker) - U.S. investment bank Morgan Stanley upgraded Lanxess to "overweight" from "equal-weight" and raised its price target to 54 euros from 41 euros. The European chemicals sector has probably passed its low point, the experts said in an industry report published on Wednesday. The experts specifically pointed to the positive impact of lower gas prices and the reopening of China. The recovery will be slow, however, as the first quarter is likely to still be marked by challenges. Lanxess, meanwhile, is nearing the end of a prolonged transformation phase, said Jonathan Chung, the analyst newly responsible for the specialty chemicals group. The harvest of this could be reaped soon./tih/la

Publication of the original study: 11.01.2023 / 04:00 / GMT

First disclosure of original study: Date not stated in study / Time not stated in study / Time zone not stated in study

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