Solvay: stock up on broker upgrade
(CercleFinance.com) - The share of Belgian chemical group Solvay is up over 2% in Brussels on Tuesday, boosted by Berenberg upgrading its rating from "hold" to "buy," while increasing its corresponding target price from 102 euros to 120 euros.
The broker underlines that the share has underperformed the European chemical sector by around 10% since the beginning of the year and estimates that "2020 will mark an improvement, just as earnings expectations havebeen reset to more reasonable levels by a conservative strategy review".
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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 broker underlines that the share has underperformed the European chemical sector by around 10% since the beginning of the year and estimates that "2020 will mark an improvement, just as earnings expectations havebeen reset to more reasonable levels by a conservative strategy review".
Copyright (c) 2019 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.