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Umicore: UBS raises target price; still a buyer.

(CercleFinance.com) - UBS maintains its "buy" rating on the Umicore stock and has increased its target price from 39.
5 euros to 44 euros, driven by a more positive view on recycling on the back of higher metal prices.

In a research report sent to clients, the broker said it has upped its 2021-2025 margin forecasts due to the positive momentum in electric vehicle battery recycling.

Moreover, consumer interest is increasing and demand in China and key end markets is also better than we had anticipated, UBS wrote in the report.

Its 2017 and 2018 estimates now exceed the consensus by about 6%.

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