Clariant: Credit Suisse upgrades stock, raises target price
(CercleFinance.com) - Credit Suisse has upgraded its rating opinion on Clariant shares from Neutral to Outperform, while increasing its target price for them to 23 Swiss francs, from 17 Swiss francs.
"We forecast 2022-24E EPS CAGR of +20% and are 15/22% above consensus 2023-24 EPS," the analyst says.
The CEO's target of at least a 160-bp improvement in its EBITDA margin by 2025 seems achievable the analyst believes, who expects CLN to "turn cash-positive in 2024".
Credit Suisse's target price implies "implies a 10.0x FY23E EBITDA multiple, which is line with the peer group", the analyst notes, believing that "this fairly reflects opportunities from delayering and growth in key products".
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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.
"We forecast 2022-24E EPS CAGR of +20% and are 15/22% above consensus 2023-24 EPS," the analyst says.
The CEO's target of at least a 160-bp improvement in its EBITDA margin by 2025 seems achievable the analyst believes, who expects CLN to "turn cash-positive in 2024".
Credit Suisse's target price implies "implies a 10.0x FY23E EBITDA multiple, which is line with the peer group", the analyst notes, believing that "this fairly reflects opportunities from delayering and growth in key products".
Copyright (c) 2022 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.