NEW YORK (dpa-AFX Broker) - US bank JPMorgan has downgraded ElringKlinger from "Overweight" to "Neutral" and lowered its price target from EUR 10.20 to EUR 8.30. The transition period could be difficult for the automotive supplier, wrote analyst Akshat Kacker in a study published on Wednesday. The company has clearly improved strategically in the field of electrification. However, with little economic stimulus, investors are likely to look for sales growth above the market level and penalize the lack of earnings momentum, the expert believes. The development of earnings and cash at ElringKlinger is suboptimal./ag/edh

Publication of the original study: 08.05.2024 / 05:05 / BST

First disclosure of the original study: 08.05.2024 / 05:05 / BST

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