Lanxess downgraded to Hold from Buy at Berenberg

Berenberg downgraded Lanxess (LNXSF) to Hold from Buy with an unchanged price target of EUR 31. The shares have rallied too much on the back of a pre-released Q4 beat, the prospect of peace in Ukraine bringing lower energy prices, and a relatively positive German election result, the analyst tells investors in a research note. In light of the uncertain industrial demand outlook for 2025, still elevated gas prices and the lack of clarity on the outcome of a potential Ukraine peace deal for gas prices, the firm downgraded the shares.