Syensqo: Deutsche Bank a buyer again
(CercleFinance.com) - On Monday Deutsche Bank upgraded shares of Belgian chemicals group Syensqo (formerly Solvay) from "hold" to "buy".
CP: +3.4%.
Deutsche Bank, which downgraded the stock in October due to price and automotive market issues, notes that its share price has since fallen by 12%, against a backdrop of economic fears and market volatility.
While Syensqo published better-than-expected Q3 results, the broker believes that the share has now become "too cheap", seeing 24% upside potential in its unchanged price target of E87.
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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.
CP: +3.4%.
Deutsche Bank, which downgraded the stock in October due to price and automotive market issues, notes that its share price has since fallen by 12%, against a backdrop of economic fears and market volatility.
While Syensqo published better-than-expected Q3 results, the broker believes that the share has now become "too cheap", seeing 24% upside potential in its unchanged price target of E87.
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.