ZURICH (dpa-AFX Broker) - Swiss major bank UBS raised its price target for Lanxess to 50 euros from 43 euros and left its rating at "buy." The specialty chemicals group is likely to pass on most of the recent gas price cuts to customers, analyst Andrew Stott wrote in a research note presented Monday. But at least in the short term, he expects a lag between Lanxess' selling prices and cost of goods sold, which should have a positive impact on profitability. As a result, he said he has raised his earnings estimates for the fourth quarter of 2022 and full year 2023./edh/ajx

Publication of the original study: 20.01.2023 / 17:38 / GMT

First disclosure of the original study: 20.01.2023 / 17:38 / GMT

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