Umicore: Liberum raises target price.
(CercleFinance.com) - Liberum has raised its price target on Belgium's Umicore share from 58 euros to 75 euros, maintaining a "buy" rating on the stock, citing the materials technology group's growth opportunity in electric cars.
In a research note, the British investment bank explains that Li-ion batteries with nickel-manganese-cobalt cathodes should be the electric vehicle (EV) industry standard by 2025.
"We now think Umicore can get 30% share in EV cathodes through 2020 rather than +20%," Liberum writes in the report.
The bank - which has raised its estimates - even thinks that this scenario could prove "cautious" given conservative eCar assumptions and the additional potential from eBus and eStorage.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a research note, the British investment bank explains that Li-ion batteries with nickel-manganese-cobalt cathodes should be the electric vehicle (EV) industry standard by 2025.
"We now think Umicore can get 30% share in EV cathodes through 2020 rather than +20%," Liberum writes in the report.
The bank - which has raised its estimates - even thinks that this scenario could prove "cautious" given conservative eCar assumptions and the additional potential from eBus and eStorage.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.