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Brenntag SE, the leading global distributor of industrial and specialty chemicals, provides a range of services including storage, packaging, and logistics management. By the end of 2023, the company will operate over 600 distribution sites worldwide, with significant sales contributions from the United States (35.9%) and Germany (8.7%).
UBS has maintained a "Buy" rating for Brenntag SE, setting a target price of 80 euros. Analyst Geoff Haire highlighted that a potential ceasefire between Russia and Ukraine could lead to increased gas exports to Europe, significantly lowering gas prices and benefiting companies like BASF, Covestro, and Lanxess.
UBS has upgraded its outlook on UK and US equities, citing a significant P/E discount for UK stocks and a resilient economic forecast. While downgrading European equities to "weight in line" due to weak growth and disappointing results, UBS still sees potential upside surprises and recommends quality stocks with attractive valuations, such as Capgemini, Brenntag, and Campari.
UBS has upgraded its recommendation for UK and US equities, citing the UK"s significant P/E discount and resilient economic growth. While downgrading European stocks to "weight in line" due to weak growth and disappointing results, UBS maintains a cautious optimism, favoring quality stocks with attractive valuations like CapGemini, Brenntag, and Campari.
UBS AG has maintained a "Buy" rating for Brenntag SE, setting a target price of 80 euros despite the company's adjusted EBITA falling 6% short of expectations. Following this news, Brenntag's share price dropped 8.9% to EUR 56.02, reflecting a 28.6% decline since the start of 2024, yet still indicating a potential upside of 42.81%. The Q3 2024 financial results are anticipated on November 12, 2024.
UBS has maintained a 'Buy' rating for Brenntag, setting a target price of 80 euros, despite the chemicals trader's operating result missing consensus estimates by 6%. Analyst Rory McKenzie noted that the confirmed annual outlook could provide slight support for the stock. As of the latest trading, Brenntag shares are down 9.46%, priced at 55.70 euros.
UBS AG has maintained a "Buy" rating for Brenntag SE shares, setting a target price of 80 euros despite the company's adjusted EBITA falling 6% short of expectations. Following this news, Brenntag's share price dropped by 8.9% to 56.02 euros, reflecting a 28.6% decline over the year. The upcoming Q3 2024 financial results are scheduled for November 12, 2024.
The DAX 40 outlook is influenced by the recent US election results, which have alleviated political uncertainty, and the focus now shifts to upcoming US inflation data. Key economic indicators, including EU industrial products and US consumer prices, will be closely monitored, alongside speeches from various Federal Reserve representatives. The reporting season is gaining momentum, with major companies like Bayer, Allianz, and Siemens set to release their figures this week.
IG
UBS has reduced its price target for Brenntag from 85 to 80 euros while maintaining a "Buy" rating. Analyst Rory McKenzie noted a lack of near-term growth acceleration in the industrial and business services segment, leading to significantly lowered estimates for the chemicals trader. Despite this, Brenntag shares remain comparatively undervalued.
UBS AG has maintained a "Buy" rating for Brenntag SE but reduced its price target from 85 to 80 euros, citing a lack of near-term growth in the industrial and business services segment. The share price rose 0.4% to EUR 64.52, indicating a potential upside of 23.99% relative to the new target. Brenntag SE's shares have fallen 17.8% over the year, with Q3 2024 results expected on November 12, 2024.
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