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LNZ - Lenzing AG News Story

€41.2 -1.7  -3.9%

Last Trade - 2:47pm

Sector
Basic Materials
Size
Mid Cap
Market Cap £1.03bn
Enterprise Value £1.81bn
Revenue £1.65bn
Position in Universe 348th / 1040

BUZZ-Lenzing: Berenberg cuts again on Chinese capacity additions in lyocell

Thu 7th November, 2019 7:50am
** Berenberg downgrades Austrian chemicals company Lenzing
 LENV.VI  for the second time since July
    ** The brokerage cites "far too high" consensus for 2020,
less forgiving valuation and competitive threat in speciality
fibres -- cuts to "sell" from "hold"
    ** Berenberg says it believes the market is underestimating
the impact of Chinese capacity additions on lyocell pricing
    ** Estimates that Chinese competitors Hubei, Baoding Swan
and CTA/Bailu will add 200kt of lyocell capacity by 2022,
two-thirds of current market size, in addition to Lenzing's own
100kt

    

    
    

 ((Tommyalexander.lund@thomsonreuters.com))
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