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BNTGF - Brenntag: Trades At All-Time Highs After A Very Strong First Semester
Brenntag AG Muehleim/Ruhr
Brenntag is a German distributor of chemicals, with worldwide activities.
The exceptionally strong result in the first half resulted in a full-year guidance hike, but the midpoint of the FY EBITDA guidance indicates a 15-20% EBITDA decrease in H2.
Brenntag's share price has done well, but I think the downside risk is now far greater than the potential additional upside in the short term.
I'd be happy to revisit Brenntag at a lower price, but for now, I remain on the sidelines.