The analysis house Jefferies has downgraded PVA TePla from “Buy” to “Hold” and lowered the price target from 37 to 26 euros.
Increasing economic uncertainty is affecting the outlook for the technology group PVA TePla, wrote Constantin Hesse in a study available on Wednesday. The ability to plan the next growth phase is also limited due to delays with customers and the prospects for silicon wafers. This requires a more cautious approach.
PVA TePla shares continue to fall – Jefferies doubts revaluation
PVA TePla shares continued their price slide somewhat slower on Thursday. At 20.76 euros, the shares of the broad-based technology company fell to another low since mid-August.
After almost a third of the price correction from the annual high at the end of October, they curbed the losses somewhat in the morning. PVA shares had gained 140 percent in value by October.
Analyst Constantin Hesse from the investment bank Jefferies had reduced his price target to 26 euros the evening before and canceled his buy recommendation. Although it remained above the current XETRA level, it does not initially see any compelling triggers for a revaluation.
He concluded that greater uncertainty clouded the outlook.
NEW YORK (dpa-AFX)
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