ubs lowers price target for brenntag but maintains buy rating

UBS AG has given Brenntag SE shares a "Buy" rating, but has lowered its price target from 85 to 80 euros.

Analyst Rory McKenzie has stated that there is a lack of near-term growth acceleration in the industrial and business services segment, resulting in a significant downward revision of estimates for the chemicals trader. Despite this, the shares are currently valued relatively low.

As of 11:35 a.m. in the XETRA session, Brenntag SE's share price has increased by 0.4 percent to EUR 64.52, indicating an upside potential of 23.99 percent compared to the new target price. Trading volume has reached 34,840 shares. Over the past year, the share price has declined by 17.8 percent. Investors are eagerly awaiting the company's Q3 2024 results, which are scheduled to be released on November 12, 2024.

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