Osram: negative broker comments weigh on shares
(CercleFinance.com) - Shares in Germany's Osram are currently down 1.
5% at 59.7 euros on Tuesday, after analysts at UBS said they expected "weak" second-quarter results on 3 May, saying that this could weigh on the shares until then.
UBS has therefore decided to cut its target price on the stock of the lighting group, now targeting 81 euros, from 86 euros previously.
The broker, which maintains a "buy" rating on the stock, said that the second quarter should be a "trough," leaving leeway for "subsequent outperformance" afterwards.
UBS' comments prompted another round of selling on the stock, which has now fallen 20% year-to-date on concerns relating to FX and the lighting solutions and systems (LSS) division.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5% at 59.7 euros on Tuesday, after analysts at UBS said they expected "weak" second-quarter results on 3 May, saying that this could weigh on the shares until then.
UBS has therefore decided to cut its target price on the stock of the lighting group, now targeting 81 euros, from 86 euros previously.
The broker, which maintains a "buy" rating on the stock, said that the second quarter should be a "trough," leaving leeway for "subsequent outperformance" afterwards.
UBS' comments prompted another round of selling on the stock, which has now fallen 20% year-to-date on concerns relating to FX and the lighting solutions and systems (LSS) division.
Copyright (c) 2018 CercleFinance.com. All rights reserved.