Clariant: UBS downgrades 'buy' rating.
(CercleFinance.com) - On Wednesday UBS downgraded its rating on Swiss speciality chemicals maker Clariant from "buy" to "neutral," citing the share's 50% rise year-to-date.
Fundamentals and peer comparison no longer suggest further upside for the shares, UBS wrote in a note.
However, the broker still raised its target price for the share from 22 Swiss francs to 26 Swiss francs.
In a research report, UBS underlines that after the completion of the Huntsman deal last week, corporate actions could boost the stock, with the broker citing shareholder-friendly initiatives such as buybacks, dividends and accelerating portfolio transactions.
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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.
Fundamentals and peer comparison no longer suggest further upside for the shares, UBS wrote in a note.
However, the broker still raised its target price for the share from 22 Swiss francs to 26 Swiss francs.
In a research report, UBS underlines that after the completion of the Huntsman deal last week, corporate actions could boost the stock, with the broker citing shareholder-friendly initiatives such as buybacks, dividends and accelerating portfolio transactions.
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.