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UBS Global Research has upgraded Azelis Group to a "buy" rating, citing an attractive valuation and the belief that profit pressures have peaked. The firm raised its price target from €19 to €22, anticipating a 4.5% volume growth in 2025 and highlighting Azelis's potential for market expansion through mergers and acquisitions. Despite recent challenges in the chemical distribution sector, UBS sees a resilient industry with structural growth and defensive demand patterns.
UBS Global Research has upgraded Azelis Group to a "buy" rating, citing an attractive valuation and the belief that profit pressures have peaked. The firm projects a 4.5% year-over-year volume growth for 2025, with conversion margins stabilizing above pre-2020 levels, and has raised its price target from €19 to €22. Despite challenges in the chemical distribution sector, Azelis's long-term growth potential remains strong, supported by its active mergers and acquisitions strategy.
UBS Global Research has downgraded Brenntag to a 'neutral' rating from 'buy,' citing concerns over the company's disappointing profit performance and uncertainties in its restructuring plans. The price target has been reduced to €60 from €80, with potential upside to €105 if profitability improves, but a downside risk could see shares drop to €35 if restructuring fails. Rising selling, general, and administrative expenses have pressured margins, contrasting with peers, and the company faces challenges in executing its planned divisional separation.
Standard Chartered Plc and Virtu Financial Inc. are set to join a new London-based crypto derivatives trading platform, GFO-X, which is also welcoming ABN Amro Clearing and market maker IMC. The platform, backed by M&G Investments, aims to launch in the first quarter of next year as interest in digital currencies surges.
IMCD N.V.
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ubs upgrades azelis to buy citing recovery and attractive valuation
14:25 17.01.2025
ubs upgrades azelis to buy citing recovery and attractive valuation
14:18 17.01.2025
ubs downgrades brenntag to neutral amid profit concerns and management changes
11:59 17.01.2025
new crypto derivatives trading platform launches in london with major financial firms
14:00 09.12.2024
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