Umicore: Jefferies upgrades stock
(CercleFinance.com) - On Wednesday Jefferies upgraded shares of the metals and materials group Umicore from "underperform" to "hold", albeit with a target price reduced from E27 to E26.
In its comments, the broker justifies its upgrade by the management team's change in attitude, which no longer seems to be seeking growth at any price, thereby limiting the need for a capital increase.
This more disciplined approach, particularly in the cathode materials division, comes on top of sound customer relations, helping to offset declining capacities, it adds.
Copyright (c) 2023 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 its comments, the broker justifies its upgrade by the management team's change in attitude, which no longer seems to be seeking growth at any price, thereby limiting the need for a capital increase.
This more disciplined approach, particularly in the cathode materials division, comes on top of sound customer relations, helping to offset declining capacities, it adds.
Copyright (c) 2023 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.