Credit Suisse Upgrades LANXESS (LNXSF) to Buy

In a report released yesterday, Samuel Perry from Credit Suisse upgraded LANXESS (LNXSFResearch Report) to Buy, with a price target of EUR76.00. The company’s shares closed last Monday at $76.25, close to its 52-week high of $80.55.

According to TipRanks.com, Perry is ranked #2296 out of 7641 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for LANXESS with a $87.08 average price target, representing a 14.1% upside. In a report issued on August 30, Deutsche Bank also maintained a Buy rating on the stock with a EUR79.00 price target.

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The company has a one-year high of $80.55 and a one-year low of $49.95. Currently, LANXESS has an average volume of 403.

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LANXESS AG is a holding company, which engages in the provision of specialty chemicals. It operates through the following segments: Advanced Intermediates, Specialty Additives, Performance Chemicals, High Performance Materials, and Arlanxeo. The Advanced Intermediates segment consists of industrial chemical intermediates and a key player in the custom synthesis, and manufacturing of chemical precursors and specialty active ingredients. The Specialty Additives segment focuses on specialty additive chemicals. The Performance Chemicals segment covers application-oriented process, and functional chemicals operations. The High Performance Materials segment represents plastic activities in the engineering materials. The Arlanxeo segment refers to synthetic rubber activities. The company was founded on July 1, 2004 and is headquartered in Leverkusen, Germany.