UBS believes that the outlook implies a moderate increase in EBITDA for 2024. The analyst remains neutral on the stock, with an unchanged target price of E27, representing upside potential of only 3%.

' EBITDA for Q4 2023 is ahead of consensus. The current business environment is likely to remain difficult until the 1st half of 2024' says UBS.

' For the full year 2024, Lanxess expects EBITDA before exceptional items to be slightly higher than in 2023. However, earnings will remain well below the average level of previous years' said Matthias Zachert.

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