HAMBURG (dpa-AFX Broker) - Hauck Aufhäuser Investment Banking downgraded Vitesco from "buy" to "hold" due to the Schaeffler takeover offer and left the price target at 105 euros. After the rapid rise in the share price in response to the purchase offer, the shares of the automotive supplier have insufficient upside potential, analyst Christian Glowa justified the downgrade in a study published on Wednesday. He assumes that the transaction will go through, as Schaeffler already owns 49.9 percent of Vitesco's shares and thus a possible higher counteroffer seems unlikely./edh//ajx

Publication of the original study: 11.10.2023 / 08:31 / CEST

First disclosure of the original study: 11.10.2023 / 08:31 / CEST

-----------------------

dpa-AFX Broker - the Trader News from dpa-AFX

-----------------------