DSM: Barclays raises target price

(CercleFinance.com) - Barclays has reinstated its "overweight" recommendation on the DSM share, raising its corresponding target price from 101 euros to 108 euros, in the wake of a 2% increase in 2019-20 EBITDA estimates, coupled with a new valuation method for the Dutch chemist.


"Its strong growth outlook makes DSM one of the most attractive investment opportunities in European chemicals," the broker says, for which "The single biggest investor concern we found is not about fundamentals but valuation".

Barclays says that the share price does not yet fully reflect the group's growth potential, despite its recent strong outperformance. It projects a total shareholder return (TSR) of 13% over the next three years.



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