- (PLX AI) - Bilfinger shares sank 14% after analysts at Bank of America cut their recommendation to underperform from buy.
- • Price target cut to EUR 22 from EUR 33
- • The analysts are turning cautious on the outlook for order intake from the industrial client base amidst fading economic growth prospects and credible risk of gas rationing placed on German industry, they said
- • Current widespread inflation poses a headwind to margins, as the balance of bargaining power lies with customers which are significantly larger companies, BofA said
- • Bilfinger traded at EUR 26.82 per share
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