Umicore: penalized by broker downgrade

(CercleFinance.com) - Umicore loses 2% and thus significantly underperforms the trend in Brussels, penalized by comments from UBS, which remains 'sell' on the materials and recycling technologies group's shares, with a price target lowered from 18 to 13 euros.


We still see downside potential for the stock", warns the broker, predicting that the group's RBM (rechargeable battery materials) business will be loss-making at EBIT level by 2025, and that structural pressures will persist.

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