FRANKFURT (dpa-AFX) – Shares of Stabilus came under significant pressure on Friday after a skeptical analyst comment. In early trading, the auto supplier's stock fell by as much as 8.4 percent. Most recently, they were still down 5.2 percent at €26.45, making them the worst performer on the small-cap SDax index.
The shares also slipped below the 21-day moving average, a key indicator for short-term trends, but initially managed to stay above the medium- and long-term trend lines.
Marc-Rene Tonn of analysis firm Warburg Research lowered his price target for Stabilus from €54 to €44. He believes the company had a weak second quarter. However, he still sees the lower end of the annual targets as achievable. As a result, he maintained his "Buy" rating on the stock./niw/jha/
