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Mersen: Portzamparc resumes 'buy' rating

( - Broker Portzamparc has upgraded its rating on the Mersen stock to “buy” (vs.
"reinforce") for this specialist in graphite products, following its fall and the group's small acquisition.
The broker maintains its target price at 44.2 euros, which suggests upside potential of over 35%.

The group will acquire Louisville Graphite Inc., a small US company (revenues of 1 million dollars), which is specialised in the design, manufacture, refurbishment and repair of graphite heat exchangers and other graphite equipment. Portzamparc believes that this acquisition, which is part of the group's diversification strategy, will offset the cyclical effects of the market cycle in the chemicals industry.

However, the deal is not significant and therefore does not change the share's fundamental assessment by Portzamparc. However, after the share's decline (-11.4% in one month), it now seems right for analysts to resume a buy rating on the share.

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