Imerys: Berenberg renews buy rating, TP E50
(CercleFinance.com) - Berenberg renewed its buy rating on Imerys shares on Friday, with a target price of 50 euros, believing that the minerals valuation specialist has many growth levers.
Analysts believe that the main catalyst behind the share price over the last three months has been the announcement of the launch of the Emili lithium mine project in central France.
The broker also notes that the group last month also reported 9m results that were in line with expectations, with FY forecasts deemed "realistic".
However, it says that 2023 will probably be a challenging year for the company, expecting a 4.1% decline in business volumes due to its 40% exposure to the construction sector.
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