The shares of Norma continue their decline on Monday and fall to its lowest level since 2013. Already on Friday, the MDax-title had collapsed after a profit warning and the resignation by about nine percent. Now several analysts lowered the price target.
Bankhaus Metzler even cancelled the buy recommendation for the shares and justified the step by saying that for the first time ever that the company had to lower its own forecasts for the three key figures sales, margins and free cash flow. The premium of up to 55 percent, with which the shares in the past three years was traded to the auto sector, should now probably disappear.