FRANKFURT (dpa-AFX) - A cancelled buy recommendation combined with a simultaneous sell recommendation hurt Koenig & Bauer shares on Monday. Most recently, the shares of the printing press manufacturer slid by 4.9 percent to 17.26 euros, thus also breaking the 200-day line, which describes the longer-term trend.

At 17.08 euros, they also tested their interim low from the beginning of June. Below that, it would be the lowest price since March. The shares of competitor Heidelberger Druck also reacted weakly with minus 1.1 percent.

Analyst Jorge Gonzalez Sadornil from Hauck Aufhäuser Investment Banking changed his rating for Koenig & Bauer from "buy" to "sell" and cut the price target from 26 to 14 euros. After the strong start to the year, order intake fell massively in the second quarter, he wrote in a recent study. There is no clear impetus for a recovery in the second half of the year, and the predictability of growth in the coming year is therefore deteriorating./ajx/jha/