Solvay: Mainfirst recommends holding onto shares
(CercleFinance.com) - Business could normalise in the 4th quarter rather than the 3rd, says Mainfirst, with the reminder that Solvay's CEO had already in the 2nd quarter anticipated sluggish recovery.
Although EBITDA may be slightly up in the third quarter compared to the second, Mainfirst anticipates a fall of 25% year on year. Of the group's activities, the broker foresees the chemicals sector to be the most likely to show improvement.
On this basis, Mainfirst issues a 'hold' recommendation with a target price of 71 euros.
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