Aperam: Barclays starts to monitor as seller
(CercleFinance.com) - Barclays began monitoring Aperam shares on Wednesday with an "underweight" recommendation and a target price of 29 euros.
In a report on European stainless steel players, the broker said it expects the current negative price momentum in the sector to weigh on producer prices.
"We are still in the early phases of a demand slowdown, and stainless equities have struggled to outperform in similar historical periods," the analyst said.
In its study, Barclays notes, however, that most stocks in the sector are already factoring in the future scenario of a recession.
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