AkzoNobel: UBS cuts target price

(CercleFinance.com) - While maintaining its 'neutral' rating on AkzoNobel shares, UBS has lowered its target price from E78 to E74, with the latter leaving 10% upside potential for the share of the Dutch paint and coatings chemist.


"We expect Akzo to deliver 2-3% pa organic sales growth resulting in ~7% pa EBITDA growth in 2024/25. UBS is 6% ahead 1Q24 cons EBITDA but 3% below cons for FY24", the broker summarises.


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