Wartsila Drops 4% as Danske Downgrades on Cost Inflation, Reduced Demand

• (PLX AI) - Wartsila shares fell 4% after analysts at Danske Bank cut their recommendation on the stock to hold from buy.
• • Price target also cut to EUR 9.50 from EUR 12.20
• • Wartsila is likely to see declining EBIT this year, as cost inflation bites and the company's price hikes may be affecting demand from its customers, Danske said
• • Customer decision-making has slowed in all businesses due to price increases implemented by Wartsila, Danske said
• • Wartsila price targets were also cut at SEB and Nordea today