(CercleFinance.com) – Stifel reiterates its ‘buy’ recommendation on Arkema, but with a price target lowered from 123 to 106 euros on the basis of reduced 2023 earnings forecasts and a higher weighted average cost of risk (WACC) raised.
The broker expects that ‘the third quarter was impacted by weak trends in the construction end markets and by destocking mainly affecting adhesives and coating solutions’.
According to its new projections, Stifel thinks that the EBITDA of the French chemical group could thus fall, from more than 2.1 billion euros in 2022 to 1.5 billion next year.
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