FRANKFURT (dpa-AFX Broker) - The investment bank Stifel has upgraded Lanxess from "Hold" to "Buy" and raised the price target from 28 to 31 euros. In 2024, the chemical industry should reach a positive turning point in terms of demand and profits and in 2025 many companies should then show good earnings momentum again, analysts Andreas Heine and Isha Sharma wrote in an industry study published on Friday. The share prices of Wacker Chemie and Lanxess have the greatest potential for recovery. In addition to a recovery in profits, both are benefiting from higher values in their non-core areas and an improvement in financial strength. However, the experts are taking a more cautious view of manufacturers of basic chemicals. The markets are oversupplied with these basic chemicals, which are produced on a large scale for many industrial products, and a recovery in profit margins will probably take time./mis/ag

Publication of the original study: 14.06.2024 / 01:03 / EDT

First dissemination of the original study: 14.06.2024 / 01:03 / EDT