K+S: Stifel still a buyer, raises target price
(CercleFinance.com) - Stifel reinstates its "buy" rating on K+S shares, having increased its target price for them from 33 euros to 35 euros, based on higher market prices for potash - the broker still expects 2023 to be a peak year.
"The main risk to our investment thesis is a gas shortage in Germany," the broker warns. It estimates EBITDA of 2.9 billion euros for 2022, which is 13% above the consensus, expecting it to reach 3.2 billion euros in 2023.
The share is currently up about 2.5% at 30.5 euros in Frankfurt.
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