Acerinox: Credit Suisse upgrades stock
(CercleFinance.com) - Credit Suisse has upgraded its rating on the Acerinox stock from "neutral" to "outperform", having increased its corresponding target price from 8.
20 euros to 9.50 euros, highlighting "improving EU stainless steel fundamentals and attractive valuation".
"We think ACX has strong operations (especially in the US and Europe) with a healthy balance sheet, good shareholder returns and an improving end-market demand outlook," the broker says.
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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.
20 euros to 9.50 euros, highlighting "improving EU stainless steel fundamentals and attractive valuation".
"We think ACX has strong operations (especially in the US and Europe) with a healthy balance sheet, good shareholder returns and an improving end-market demand outlook," the broker says.
Copyright (c) 2020 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.