HAMBURG (dpa-AFX) - The private bank Berenberg has lowered its target price for Wacker Chemie from 125 to 110 euros and left its rating at "Hold". Compared to other chemical stocks such as BASF and Lanxess, Wacker Chemie's performance in 2023 was not bad, analyst Sebastian Bray wrote in a study published on Friday. In addition to low debt, however, this was due to hopes for political support in Germany against the worst effects of the energy cost crisis and the decoupling of polysilicon prices inside and outside China - two factors that should no longer support 2024. Bray is lowering its earnings estimates (EPS) for 2024 and 2025 by an average of 30 percent each./gl/jha/

Publication of the original study: 04.01.2024 / 20:19 / GMT First dissemination of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

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