Plastic Omnium: Deutsche Bank drops buy rating
(CercleFinance.com) - Deutsche Bank has downgraded its rating on the Plastic Omnium share from "buy" to "hold".
Even so, the analyst has increased his corresponding target price to 27 euros, from 20 euros previously.
The broker also points out that its new guidance is "clearly above market expectations and imply a strong recovery in the future".
By expanding its full range of hydrogen products, Plastic Omnium is diversifying its portfolio and "entering the race to become a market leader," Deutsche Bank says.
The share is currently up about 0.6%.
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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.
Even so, the analyst has increased his corresponding target price to 27 euros, from 20 euros previously.
The broker also points out that its new guidance is "clearly above market expectations and imply a strong recovery in the future".
By expanding its full range of hydrogen products, Plastic Omnium is diversifying its portfolio and "entering the race to become a market leader," Deutsche Bank says.
The share is currently up about 0.6%.
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.