On Thursday, Stifel, a financial services firm, adjusted its price target for shares of Fuchs Petrolub SE (FPE3:GR) (OTC: FUPBY), a global lubricants company. The stock price target has been increased to €45.00 from the previous €43.00, while the Hold rating on the stock remains unchanged.
The revision comes as Stifel's analysts make slight adjustments to their estimates in anticipation of the company's first-quarter results for 2024. The new price target reflects these updated estimates and the analysts' expectation that the company will maintain its performance in line with market consensus.
Stifel projects that Fuchs Petrolub's earnings before interest and taxes (EBIT) for the first quarter of 2024 will be €107 million. This figure takes into account an ongoing increase in volume but also a decline in prices, which is believed to mirror a decrease in raw material costs.
For the full year 2024, Stifel forecasts the company's EBIT to be slightly above the guidance provided by Fuchs Petrolub, aligning with the consensus among analysts. The financial services firm indicates that while they anticipate consistent performance, there is limited potential for a significant positive earnings surprise for the company.
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