(CercleFinance.com) – The Imerys share suffered one of the biggest declines in the SBF 120 on Friday at the start of the afternoon, penalized by cautious comments from Berenberg analysts.
At 2:15 p.m., the shares of the mineral recovery specialist fell by 1.8% while the SBF fell by around 0.4%.
Berenberg announced this morning that it had revised its price target on the stock downwards, from 51 to 46 euros, even if the research office continues to post a purchase recommendation on the stock.
In its research note, the investment services provider explains that it expects the French group’s exposure to the construction sector, which represents 40% of its activity, to strongly penalize its results in the second part of the year. ‘exercise.
Analysts add that they are gradually becoming more pessimistic regarding the prospect of a recovery by the end of the year in its industrial preparations branch, forecasting demand to be at half mast for some time, whether in Europe or in the USA.
At the same time, the recovery of the Chinese economy quickly ran out of steam, continues Berenberg, who says he does not envisage any recovery in growth in the immediate future.
In this context, the German research office estimates that the objective of an Ebitda of between 630 and 650 million euros communicated for this year could prove ‘difficult to achieve’.
Imerys plans to publish its third quarter results on October 30.