K+S: Commerzbank lowers target price; maitains 'buy' rating.
(CercleFinance.com) - Commerzbank has reduced its target price for the German potash and salt miner K+S to 27.
5 euros (vs. 28 euros), although is sticking to its "buy" rating on the shares, seeing 32% upside.
While the presentation of the group's medium-term strategy started with a disappointing short-term outlook and wiped around 300 million euros off the group's market cap, the broker thinks the new strategy "improves transparency."
"We expect key drivers to become more visible from 2018," Commerzbank wrote in the report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5 euros (vs. 28 euros), although is sticking to its "buy" rating on the shares, seeing 32% upside.
While the presentation of the group's medium-term strategy started with a disappointing short-term outlook and wiped around 300 million euros off the group's market cap, the broker thinks the new strategy "improves transparency."
"We expect key drivers to become more visible from 2018," Commerzbank wrote in the report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.