AkzoNobel: UBS upgrades stock

(CercleFinance.com) - UBS has upgraded AkzoNobel shares from 'neutral' to 'buy', with a TP raised from E76 to E80, which now offers 27% upside potential for the Dutch chemicals group's stock.


"Akzo Nobel offers the highest EBITDA growth in the US and EU coatings sub-sector. 2024E EV/EBITDA is ~20% below the average of the last five years", the broker says, adding that "2024E EV/EBITDA is ~20% below the average of the last five years".


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