AkzoNobel: UBS maintains buy rating, trims target price

(CercleFinance.com) - UBS maintains its "buy" rating on AkzoNobel shares, while trimming its target price for them from 85 euros to 82 euros, with its new revised target representing 35% upside potential for the Dutch paints and coatings supplier's shares.


"The shares offer an attractive risk reward with a FCF yield of 8% in 2023 vs EU Spec Chem peers at 4% and 27% y/y recovery in EBIT in 2023," the broker said.


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