Duerr: Berenberg sees no catalysts, cuts

Duerr AG

11/02/2021 07:25

** Berenberg downgrades German machinery maker Duerr
 DUEG.DE  to "hold" from "buy", citing lack of catalysts 
    ** "Duerr appears fairly priced for now, especially as we do
not expect significant catalysts from upcoming communications,"
the broker says
    ** It says the mood has brightened in the automotive
industry over the past few quarters, but it does not believe
Duerr's Automotive Paint business' greenfield order intake can
be boosted
    ** Among the 17 analysts that cover Duerr, nine rate the
stock "strong buy" or "buy," seven "hold" and 1 "sell" or
"strong sell"
    ** Shares are seen down 3.7% pre-market

 ((bartosz.dabrowski@thomsonreuters.com))