FRANKFURT (dpa-AFX Broker) - The shares of SGL continued their recovery rally on Wednesday after a buy recommendation from HSBC. At 7.195 euros, the shares of the carbon specialist reached their highest level since September 2023 and are thus up a good 10 percent this year. Analyst Dario Dickmann believes that market expectations have now been reasonably corrected. A divestment of the carbon fiber business could also become a decisive price driver. He raised his price target to 10 euros.

The carbon fiber division is currently the Group's problem child. Sales here fell significantly in 2023 due to the slump in demand on the wind energy market. As a result, some production lines had to be shut down, which led to high idle costs, the company recently reported. The operating result adjusted for non-recurring items (EBITDA) also slipped significantly. Since February, the Management Board led by Group CEO Torsten Derr has been examining the strategic options for the second-largest segment after Erlos, including a possible sale as a whole or in parts./ag/mis

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