NEW YORK (dpa-AFX) - U.S. investment bank Bank of America (BofA) downgraded Brenntag to "neutral" from "buy" in a 2023 outlook and cut its price target to 73 euros from 101 euros. Over the past three years, chemical distributors such as Brenntag have benefited from a favorable market environment and tight supply chains, most recently in Europe for energy-intensive products, analyst Simona Sarli wrote in a research note on business services available Thursday. However, she has since become more cautious on Brenntag shares, saying the valuation discount is no longer large enough in light of falling earnings expectations./ck/mis

Publication of the original study: 12.01.2023 / 01:00 / EST First disclosure of the original study: 12.01.2023 / 01:00 / EST

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