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Lanxess: Berenberg still a buyer, but cuts target

(CercleFinance.com) - Berenberg maintains its "buy" rating on the Lanxess share, while cutting its corresponding target price from 63 euros to 45 euros, acknowledging that when it increased this target price in January, it had "underestimated the impact of the novel coronavirus on the global economy".


"However, the group has a strong balance sheet and a management team with a strong track record of capital allocation," the broker says, which therefore maintains its buy rating on the share of the German specialty chemist.


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