Akzo Nobel: stock gains on UBS upgrade
(CercleFinance.com) - The Akzo Nobel share is up 0.
8% at 80.6 euros after UBS upgraded it from "neutral" to "buy," while raising its target price from 79 euros to 95 euros.
In a research note issued on Wednesday, UBS analysts say Akzo's pricing strategy to drive margins is "starting to work," giving the group potential to increase its selling prices.
"Valuation does not reflect 20% EBIT growth in 2019/20 driven by cost savings and better prices," the broker wrote in the report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
8% at 80.6 euros after UBS upgraded it from "neutral" to "buy," while raising its target price from 79 euros to 95 euros.
In a research note issued on Wednesday, UBS analysts say Akzo's pricing strategy to drive margins is "starting to work," giving the group potential to increase its selling prices.
"Valuation does not reflect 20% EBIT growth in 2019/20 driven by cost savings and better prices," the broker wrote in the report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.