Imerys: Berenberg raises TP

(CercleFinance.com) - Berenberg announced on Monday that it has raised its target price for Imerys shares from E40 to E45, maintaining its buy recommendation on them.


The broker believes that the market is significantly undervaluing the quartz mine that the group owns in the US, which it values at around E12 per share.

In its view, this joint venture, named 'The Quartz Corp' - equally controlled with Norsk Mineral - has demonstrated the continued strength of its business.

Berenberg expects Imerys to generate net income of E55m from the project in Q1, i.e. 67% of its net profit, compared with E21m in the same period last year.


Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.