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Solvay: UBS maintains sell rating, but raises TP

(CercleFinance.com) - UBS maintains its sell rating on Solvay shares, while increased its target price for them from 71 euros to 83 euros, with this new target price that giving the share of the Belgian materials chemistry group downside potential of 16%.


"Volume contraction and capacity growth in soda ash and PVDF leads to 2023E EBITDA falling 27% y/y and EBITDA margins falling 490bps vs peers at 290bps," UBS says.


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