FRANKFURT (dpa-AFX) - Varta shares continued their slide on Monday after Friday's slump. The battery company's shares fell to another record low of 8.84 euros.

Most recently, they lost 6.5 percent to 9.12 euros, bringing the share price losses in the current year to 56 percent. This makes Varta by far the weakest stock in the second-line index SDax, which was little changed on Monday and has so far recorded a gain of 2.7 percent in 2024.

On Thursday evening, Varta had to admit that its own restructuring concept was no longer sufficient. Analyst George Galliers from Goldman Sachs then suspended his rating. According to the expert, there is no longer a sufficient basis for the rating, price target and profit forecasts. However, he is still keeping an eye on Varta.

Meanwhile, analyst Robert-Jan van der Horst from Warburg Research cut his price target by almost half from 15 to 8 euros and continues to recommend a sell. Taking into account the challenging financial situation and limited short-term opportunities to improve the operating cash flow, Varta could require additional external financing, according to the expert.

His adjusted estimates for Varta are subject to high uncertainty given the current lack of details on the restructuring program as well as the short and medium-term financial outlook and the extent of the damage caused by the cyber-attack./ajx/ag/jha/