Solvay: Stifel raises target price

(CercleFinance.com) - Stifel reiterates its "buy" rating on the Solvay share, and raises its target price for it from 125 euros to 133 euros, based on its 2022 estimates.


It expects the Belgian chemicals group to exceed the upper end of its 2021 EBITDA target range of 2.2-2.3 billion euros.

"In our view, the Materials segment should have had a strong finish in 2021, should show strong momentum in 2022 and has great prospects long-term," the broker says.

While sentiment is weighed on by concerns about earnings prospects in the materials segment, Stifel says it is "more constructive in this regard" and expects "more corporate action to turn the sentiment during 2022".

The share is currently up about 1.8%, outpacing the Belgian market by about 1.5%.


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