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Clariant: Berenberg initiates coverage as buyer
(CercleFinance.com) - On Tuesday Berenberg initiated coverage of Clariant shares with a buy recommendation and a target price of 16.
8 CHF (cp: 14.5 CHf, -0.6%), stating that it perceives a clearer trajectory for margin improvement.
In a research note, the analyst points out that the share price of the Swiss specialty chemicals group has fallen by almost 50% since 2017, due to a number of unfavourable factors.
Amongst other things these include a strategic divergence (now resolved) with reference shareholder SABIC, the failure of a project in bioethanol (Sunliquid) and the more global difficulties that have hit volumes and profitability in the chemical sector, he points out.
Yet the analyst believes that these economic factors have also masked the progress made by the company in rationalizing its portfolio and costs in recent years, he points out.
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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.
8 CHF (cp: 14.5 CHf, -0.6%), stating that it perceives a clearer trajectory for margin improvement.
In a research note, the analyst points out that the share price of the Swiss specialty chemicals group has fallen by almost 50% since 2017, due to a number of unfavourable factors.
Amongst other things these include a strategic divergence (now resolved) with reference shareholder SABIC, the failure of a project in bioethanol (Sunliquid) and the more global difficulties that have hit volumes and profitability in the chemical sector, he points out.
Yet the analyst believes that these economic factors have also masked the progress made by the company in rationalizing its portfolio and costs in recent years, he points out.
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.