Umicore: reasons to be cheerful, Liberum says.
(CercleFinance.com) - Liberum analysts are not worried about the flurry of cautious broker notes that have affected Belgium's Umicore in recent weeks, pointing out out that the downgrades have not been prompted by company comments.
The broker explains that these reports relate more to valuation issues and to the commoditisation risk that lies in electric vehicles cathode materials.
Still optimistic about the prospects for battery materials, Liberum reiterates its "buy" rating on the stock with a target price of 75 euros.
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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 explains that these reports relate more to valuation issues and to the commoditisation risk that lies in electric vehicles cathode materials.
Still optimistic about the prospects for battery materials, Liberum reiterates its "buy" rating on the stock with a target price of 75 euros.
Copyright (c) 2017 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.