Umicore: Liberum revises target price
(CercleFinance.com) - An analyst at Liberum today said that he is reducing his estimate for Umicore's 2019 EBIT estimate by 9% to 548 million euros.
"Revisions centred on Recycling where processing volumes will be lower than we previously thought due to an "extended" 1Q maintenence shutdown and the E&ST Division," the broker says. As a result, the broker has cut its target price for the share from 50 euros to 47 euros.
The analyst nevertheless confirms his "buy" rating on the stock, saying that growth momentum remains intact. Indeed, the broker's new target price still means upside potential of around 38%.
Copyright (c) 2019 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.
"Revisions centred on Recycling where processing volumes will be lower than we previously thought due to an "extended" 1Q maintenence shutdown and the E&ST Division," the broker says. As a result, the broker has cut its target price for the share from 50 euros to 47 euros.
The analyst nevertheless confirms his "buy" rating on the stock, saying that growth momentum remains intact. Indeed, the broker's new target price still means upside potential of around 38%.
Copyright (c) 2019 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.