NEW YORK (dpa-AFX Broker) - The US bank JPMorgan has lowered its price target for K+S from 22 to 19 euros, but left its rating at "Overweight". Contrary to his expectations, fertilizer prices in the second half of 2023 would not have benefited from the significant recovery in demand, analyst Chetan Udeshi wrote in a study published on Monday. They may have bottomed out. However, his expectation of a significant recovery has diminished. Udeshi therefore significantly lowered his operating earnings (EBITDA) and cash flow estimates for 2024/25 ahead of the quarterly figures due in mid-March. However, the valuation already reflects this./gl/ag

Publication of the original study: 01.03.2024 / 20:10 / GMT First dissemination of the original study: 04.03.2024 / 00:15 / GMT

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