AkzoNobel: shares up, Barclays raises price target

(CercleFinance.com) - Shares in AkzoNobel gain 1.
8 percent to 84 euros after hitting an all-time high of 84.2 euros earlier in the session.

Barclays has raised its price target for the stock to 100 euros from 89 euros, keeping its "overweight" rating on the stock.

"AkzoNobel stands to benefit from deflation, is highly likely to grow earnings, has an ongoing buyback and potential for another one, yet trades on a reasonable valuation without exposure to a lot of the problem areas plaguing the chemical industry”, Barclays says in a note to clients.

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