Clariant: Credit Suisse downgrades stock and cuts TP

(CercleFinance.com) - Credit Suisse has downgraded the Clariant stock to neutral (from outperform) and has cut its corresponding target price to 19.
2 Swiss francs (from 20.5 Swiss francs).

The analyst believes that demand is likely to lag the general recovery of chemical products: "operating earnings/progression (likely to lag peers)".

"Financially, sustainably improving FCF remains the key challenge throughout the cycle... we forecast its FCF yield to lag the broader sector/key peers," Crédit Suisse adds.


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