Umicore: UBS cuts target price

(CercleFinance.com) - UBS reaffirms its 'sell' recommendation on Umicore shares, while lowering its target price for them from E20 to E18, representing 12% downside potential for the Belgian materials and recycling technology specialist's shares.


Returning from a round-table discussion with analysts on the dossier, the broker considers that "The impact of lower metal prices continues to be a headwind in 2024 though long term hedging somewhat mitigates the downside".


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