Solvay: Stifel raises its price target


Stifel reiterates its ‘buy’ recommendation and raises its price target to 125,133 euros, based on its 2022 estimates. It expects the Belgian chemical group to exceed the upper limit of its 2021 EBITDA target range of 2.2-2.3 billion euros.

“From our point of view, the materials segment should have had a good end to 2021, should see strong momentum in 2022 and has good long-term prospects,” says the broker.

While sentiment is weighed down by concerns about earnings prospects in the commodities segment, Stifel says it is ‘more constructive in this regard’ and expects ‘more action taken to transform sentiment over the course of 2022’ .

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