- (PLX AI) - Varta shares fell 21% after the company cut outlook following earnings that missed consensus, and after a German broker double downgraded the stock.
- • Varta said 9-month result was 7.5% lower in revenue and 6.8% lower in adjusted EBITDA compared to consensus
- • Outlook FY revenue was cut to EUR 900 million, down from EUR 940 million previously
- • DZ Bank downgraded Varta to sell from buy after the news
- • Price target (fair value) cut to EUR 90 from EUR 145
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