FRANKFURT (dpa-AFX) - A downgrade by the investment bank Exane BNP on Monday stopped SMA Solar's slide. After the share price had recently fallen below the 28-euro mark to a low of more than two years, the share was able to recover somewhat. In the afternoon, the gain amounted to 3.5 percent to 29.02 euros. In the morning, the initial price had been just in the red.

Although an initial recovery movement after an annual drop of more than 50 percent is still of little significance, some investors are probably hoping that the share may have reached the bottom. After all, the multiplication that got underway in 2022 in the wake of the war in Ukraine and the resulting energy crisis has been more or less reversed since its record high in summer 2023.

Exane joins the series of downgrades with the reduction to "Neutral". In the previous week, Oddo BHF and DZ Bank had already adopted neutral stances. Analyst Sebastian Growe advises investors to "get off the solar rollercoaster", as he wrote in his review of the latest profit warning published on Monday. Apart from the loss of confidence, the poor predictability beyond the current financial year is a problem./tih/jha/