STOCKS NEWS EUROPE-Lanxess gains on D.Bank upgrade

Shares in specialty chemicals maker Lanxess (LXSG.DE) rise 5.6 percent, the top gainers in Frankfurt's mid-cap index .MDAXI, after a Deutsche Bank upgrade to "buy" from "hold" and target price hike to 25 euros from 16 euros.

Deutsche Bank says Lanxess is well positioned relative to other cyclicals to benefit from a recovery in key end markets, especially replacement tyres.

The company's earnings will also be supported by cost cutting, Deutsche Bank says.

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