LONDON, July 3 (newratings.com) - Analysts at Deutsche Bank (Xetra:
514000 -
news) upgrade Lanxess AG (Xetra:
547040
-
news) (ticker: LXS) from "hold" to "buy." The target price has been raised from E16 to E25.
In a research note published this morning, the analysts mention that the company is well positioned to benefit from a recovery in its end markets, especially replacement tyres. Lanxess' ongoing cost cutting programme is targeted at generating savings worth E250 million and boosting the company's earnings in the near future, the analysts add.
© 2009 New Ratings
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