Imerys: Bryan Garnier downgrades 'buy' rating

(CercleFinance.com) - Bryan Garnier has downgraded its rating on the Imerys stock from "buy" to "neutral" and has reduced its corresponding fair value from 85 euros to 80 euros, seeing 2018 as a potential transition year for the specialty minerals group.


Although the broker remains "positive for the mid-term in view of a gradual portfolio adjustment towards more dynamic businesses," it detects factors that will weigh on near-term visibility.

Bryan Garnier suspects that "2018 will be a year of transition with a new CEO, a decision concerning the clay tiles business and the full extent of operating margin pressure".


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