AkzoNobel: Deutsche Bank still buying but cuts TP
(CercleFinance.com) - Deutsche Bank reiterates its 'buy' recommendation on AkzoNobel shares, but lowers its target price for them from E85 to E80, expecting Q2 EBITDA to rise by 4% to E413m, below the informal target range of E420m to E440m.
"In order to mitigate these pressures, the company has initiated some additional cost saving measures and targeted pricing initiatives which will start supporting the P&L from Q3 onwards", the broker points out however.
Also expecting some weather-related catch-up in decorative paints in the third quarter, Deutsche Bank believes that the Dutch chemical group will post its target of a sequential increase in EBITDA.
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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.
"In order to mitigate these pressures, the company has initiated some additional cost saving measures and targeted pricing initiatives which will start supporting the P&L from Q3 onwards", the broker points out however.
Also expecting some weather-related catch-up in decorative paints in the third quarter, Deutsche Bank believes that the Dutch chemical group will post its target of a sequential increase in EBITDA.
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.