Osram: shares rebound a little after sell-off
(CercleFinance.com) - Osram shares rose on Monday after an analyst's call triggered bargain buys after steep falls over previous sessions.
The German lighting group's shares are currently up 0.4% at 71.4 euros, after losing around 10% since 8 January.
In a research report sent to clients this morning, UBS maintains its "buy" rating on the shares, with a target price of 86 euros.
"The weakness in Osram shares reminds us of the July-November episode," the broker wrote in the report.
"We do not deny FX and lighting solutions and systems (LSS) concerns but see it as short-term noise in a structural buy case," UBS said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The German lighting group's shares are currently up 0.4% at 71.4 euros, after losing around 10% since 8 January.
In a research report sent to clients this morning, UBS maintains its "buy" rating on the shares, with a target price of 86 euros.
"The weakness in Osram shares reminds us of the July-November episode," the broker wrote in the report.
"We do not deny FX and lighting solutions and systems (LSS) concerns but see it as short-term noise in a structural buy case," UBS said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.