- (PLX AI) - Lanxess shares were down a bit more than 1% in early trading after Bank of America downgraded the stock to neutral from buy.
- • Price target cut to EUR 66 from EUR 70
- • Lanxess needs a clearer identity and to demonstrate an ability to grow in order to achieve multiple re-rating, BofA said
- • The ongoing semiconductor shortage could indirectly affect Lanxess auto business, which is about 20% of the company's sales: BofA