HAMBURG (dpa-AFX) - Hauck Aufhäuser Investment Banking has downgraded Bertrandt from "Buy" to "Hold" and drastically lowered the price target from 84 to 34 euros. The recent slump in the share price of the engineering services provider for the automotive and aviation industry reflects a fundamental change in the automotive industry, wrote analyst Christian Glowa in a study published on Monday. There, the sustained disappointing sales of electric vehicles put the manufacturers' electric vehicle strategy to the test. The Bertrandt share may be "dead money" in the short term. Among other things, he considers the EBIT margin target for the 2023/24 financial year to be at risk./ck/ag

Publication of the original study: 24.06.2024 / 07:58 / CEST

First dissemination of the original study: 24/06/2024 / 08:15 / CEST

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