Imerys: Berenberg cuts TP, but still a buyer

(CercleFinance.com) - On Thursday, Berenberg cut its target price for Imerys shares from E47 to E45, while deeming the market's reaction to the group's latest earnings release as unfair.


The analyst - who has a buy recommendation on the stock - points out that the company's financial statements showed a solid improvement in performance minerals, its core business.

Despite these good results and the resolution of historical liabilities linked to the talc business in the US, the stock has been struggling since and has failed to outperform its peers, a lukewarm reception that the broker feels is unjustified.


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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.