Arkema: Stifel raises target price
(CercleFinance.com) - Stifel reiterates its "buy" rating on Arkema shares, raising its target price for them from 133 euros to 139 euros, an increase that "reflects largely the higher FCF in 2022 and 2023".
Following a strong first-quarter overshoot, the broker substantially raises its 2022 earnings forecast for the chemicals group, now expecting them to rise by 24% y-o-y.
"We take a cautious view on the sustainability of HPP margins, which could provide upside surprise potential," says Stifel, which also points to an "Expansion of PA11 and PVDF capacity with perfect timing".
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