FRANKFURT (dpa-AFX Broker) - Following a sell recommendation by UBS, shares in Schaeffler fell to a low of 4.64 euros on Monday morning, the lowest level in more than a year. In the current year, the papers of the industrial group and automotive supplier have now lost 27 percent.

Analyst Juan Perez-Carrascosa still sees some risk with his price target of 4.50 euros. The industry outlook is weak in view of falling demand with price and cost pressures, the expert said. At the same time, the ambitious and long-term synergy targets of the probable merger with Vitesco are not required in the current environment, he added.

Meanwhile, UBS expert David Lesne raised the price target for Vitesco to 91 euros due to the Schaeffler offer, but he sees the fair value for the shares in the current industry environment only at 78 euros./ag/mis