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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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