Analysts Reduce Pfleiderer To Sell as Europe Weak

London, England, Aug. 21, 2009--Analysts at UniCredit Markets have downgraded Pfleiderer AG  from "hold" to "sell."

In a research note, the analysts mention that the company is expected to report weak second quarter and first half figures.

Pfleiderer’s weak performance is attributable to the difficult situation in Western Europe, which accounts for a significant proportion of the company’s business, the analysts say.

The company has undertaken strict cost cutting measures and has begun to gain market share.