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Investing.com - BNP Paribas (OTC:BNPQY) Exane initiated coverage on Lanxess AG (ETR:LXSG) (ETR:LXS) (OTC:LNXSF) with a Neutral rating and a price target of EUR25.00 on Wednesday.
The research firm cited challenges in taking a position on the stock without high conviction on macroeconomic conditions, given Lanxess’s sensitivity to economic factors.
BNP Paribas Exane noted that recent data suggests further downgrades across the chemical sector, making it "too early to buy the highest beta name in Diversified Chemicals."
The firm acknowledged potential positive catalysts including possible stimulus in China, EU trade protection for chemicals, and US rate or tax cuts that could drive a recovery from 2026.
These factors led BNP Paribas Exane to conclude it might be "too late to sell" the stock, resulting in the Neutral stance with the EUR25 price target.
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