Umicore: Liberum maintains its 'buy' rating.
(CercleFinance.com) - Liberum is maintaining its "buy" rating on Umicore, with a target price of 75 euros, after the Belgium-based specialty materials group's interim results confirmed its optimism for battery materials.
The broker points out that the company unveiled revenue and EBIT from continuing operations that were up 13% and 26% respectively in the first six months of 2017, with little help from M&A and FX factors.
"The principal driver to group growth and the consensus beat was the division containing lithium battery cathode materials, E&ST, where revenue and EBIT grew 38% and 66%," it added.
Liberum reminds that its buy case on the shares is based on E&ST EBIT "growing strongly over the next decade."
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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.
The broker points out that the company unveiled revenue and EBIT from continuing operations that were up 13% and 26% respectively in the first six months of 2017, with little help from M&A and FX factors.
"The principal driver to group growth and the consensus beat was the division containing lithium battery cathode materials, E&ST, where revenue and EBIT grew 38% and 66%," it added.
Liberum reminds that its buy case on the shares is based on E&ST EBIT "growing strongly over the next decade."
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.