Umicore: brace for challenging results, Liberum says

(CercleFinance.com) - Belgian specialty metals company Umicore is on track to meet its revised published guidance for 2019, although results will be second-half weighted, analysts at Liberum warned on Monday.


This deferral of growth is mainly due to cyclical factors and transitional issues in battery materials rather than a sign of competitive erosion, the broker said in a note.

For this reason Liberum remains a long-term buyer of the stock, with a target price of 44 euros.

Umicore will report first-half results on 31 July.

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