AkzoNobel: UBS raises target price

(CercleFinance.com) - UBS has raised its target price for AkzoNobel shares, citing the Dutch chemical group's potential in terms of growth and FCF yield, as well as its free cash flow divided by the share price, by 2020.


The broker, which has a "buy" rating on the stock, has raised its target price from 86 euros to 90 euros, representing upside potential of 11%.

According to UBS, Akzo offers significant earnings and FCF growth potential, as well as the prospect of further cash returns.

The broker also thinks that the company's price over volume strategy is working.

AkzoNobel shares were up about 3.3% at 83.8 euros in fairly low volumes in afternoon tradeing on Euronext Amsterdam.

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