DSM: Barclays raises target price
(CercleFinance.com) - Barclays reinstates its "overweight" rating on the DSM share, while raising its target price by 10% to 125 euros, in a report in which it updates its forecasts for eight European chemists in order to reflect the latest market conditions ahead of Q2 results.
Regarding DSM, the broker has reduced its 2020 forecasts for the materials business, due to lower sales to the automobile and protection markets. However, it raises its 2021 EBITDA estimate by 5%, mainly due to the recent acquisition of Erber.
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