AkzoNobel: UBS upgrades stock
(CercleFinance.com) - UBS has upgraded its rating on AkzoNobel shares from "neutral" to "buy" and has raised its target price for them from 85 to 100 euros - this new target price gives the share of the Dutch supplier of paints and protective coatings upside potential of 24%.
"Concerns about volume erosion overdone and price/raws turning positive", the broker notes, adding that the " Shares offer 14% pa EBIT growth to 2025E and FCF yield of 8% in 2023".
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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.
"Concerns about volume erosion overdone and price/raws turning positive", the broker notes, adding that the " Shares offer 14% pa EBIT growth to 2025E and FCF yield of 8% in 2023".
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.