Fuchs gains as confirmed outlook soothes fears
30/07/2024 08:56
** Shares in Fuchs FPE3_p.DE rise around 6% after the
German car lubricants maker posted results in line with
consensus and confirmed its guidance
** Porsche's comments on growth in China and BEV last week
puts Fuchs 2025 EBIT target of 500 mln euros at risk and have
hit its stock, Baader Helvea says
** Fuchs's stock dropped 7% last week, posting its worst
weekly losses since two years
** Broker says that downside might be limited after the
sell-off last week and guidance reiteration for 2024, while
consensus had already moved below target for 2025
** The stock is among the best performers in the
pan-European index STOXX 600 .STOXX and on track for the best
day since October 2023 if gains hold
(Reporting by Paolo Laudani)
((Paolo.laudani@thomsonreuters.com))