(News Bulletin 247) – UBS announced on Monday that it has raised its recommendation on Arkema from ‘sell’ to ‘neutral’ with a price target raised from 80 to 105 euros, following the fourth quarter results published by the chemical group French.
The analyst justifies its increase by two elements, starting with the strength of the prices of its specialty materials, whose good resistance has enabled the company to more than compensate for the decline in its volumes.
The intermediary also points to a favorable outlook for investments, with spending to support the launch of new projects now nearing completion, which he believes should boost free cash flow (FCF).
As a result, UBS says it has revised its earnings per share (EPS) forecast upwards by an average of 22% for the next three years, while stating that its estimates are still below consensus targets.
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