FRANKFURT (dpa-AFX Broker) - Wacker Chemie shares are likely to continue their downward slide on Wednesday following a pessimistic analyst commentary. On Tradegate, the shares of the specialty chemicals company lost 1.6 percent to 94.85 euros in pre-market trading compared to the Xetra close. Oddo BHF had downgraded them from "Outperform" to "Neutral". Nevertheless, the price target of 103 euros is still above the current price level.

This adds another negative analyst opinion to the already quite skeptical tones of other banks in recent weeks. Analyst Michael Schäfer from Oddo BHF also expects a lot of headwind for the MDax group in 2024. High inventories are weighing on the silicone business, which is likely to take longer to recover than initially thought./ajx/mis

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