Umicore: shares boosted by Berenberg upgrade
(CercleFinance.com) - Shares in Belgian speciality materials group Umicore have risen by as much as 4.
7% today, after Berenberg said the company will gain market share, having upgraded its rating on the stock from "hold" to "buy".
In a research note entitled "Supercharged growth at a reasonable price," Berenberg analysts said Umicore is poised to add a strong position in electric vehicle battery recycling post-2020.
Analysts have raise their target price from 48 euros to 61 euros.
Shares in Umicore are currently trading at 51.7 euros (+1.3%) on Euronext Brussels.
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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.
7% today, after Berenberg said the company will gain market share, having upgraded its rating on the stock from "hold" to "buy".
In a research note entitled "Supercharged growth at a reasonable price," Berenberg analysts said Umicore is poised to add a strong position in electric vehicle battery recycling post-2020.
Analysts have raise their target price from 48 euros to 61 euros.
Shares in Umicore are currently trading at 51.7 euros (+1.3%) on Euronext Brussels.
Copyright (c) 2018 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.