(Boursier.com) — Stifel takes advantage of a note devoted to European chemistry to downgrade Liquid air to conserve’. Confidence indicators in the sector have started to improve from a low level, and the analyst expects this trend to continue. Volumes should start to recover, but low margins could persist for longer. Company forecasts for 2024 will be cautious, according to the broker. When this prudent vision is integrated into share prices, it will be time for ‘deep fishing’. Kemira, Arkema, Evonik and Syensqo appear “at the top of the hierarchy” of the broker. Conversely, defensive stocks have limited upside potential, which explains the broker’s choice to lower its recommendation on the French giant.
JP Morgan, for its part, raises its target price from 162 to 172 euros but remains ‘neutral’.
Air Liquide dropped 1% to 171.2 euros at the start of the week on the Paris market.
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