ZURICH (dpa-AFX) - Major Swiss bank UBS downgraded Vitesco from "buy" to "neutral" on the occasion of the Schaeffler takeover bid, but raised its price target from 86 to 91 euros. There is little likelihood that the automotive supplier will increase its bid for the former Conti subsidiary and that another bidder will step in, analyst David Lesne justified his new investment recommendation in a study published on Monday. There are now two options for Vitesco shareholders: Tender their existing shares or invest in the "new" Schaeffler./edh/gl

Publication of the original study: 29.10.2023 / 12:53 / GMT First disclosure of the original study: 29.10.2023 / 12:53 / GMT

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