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Clariant: Credit Suisse downgrades to sell

(CercleFinance.com) - Credit Suisse now recommends investors sell ("underperformance") the Clariant share, having downgraded its previous "neutral" rating on the stock.

The broker has cut its target price for the share from 26.3 Swiss francs to 22.5 Swiss francs.

According to analysts, the sudden arrival of the Saudi industrialist SABIC in shareholder negotiations, replacing White Tale's activist funds, “reduces the short-term likelihood of a breakup scenario”. Indeed, the Swiss speciality chemist will probably focus on organic growth and acquisitions.

As a result, the valuation of the Clariant share should return to "more normative levels," while at present it is trading at a premium relative to its sector, Credit Suisse believes.

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