Jefferies ups Akzo Nobel to 'buy' on positive pricing trends
** Jefferies upgrades Dutch paints and coatings maker Akzo Nobel AKZO.AS to "buy" from "hold" on positive trends in Dulux paint pricing, European construction prospects and raw materials
** Shares of Akzo Nobel are up 2% at 0932 GMT
** Jefferies says average prices of Akzo's Dulux paints are near 10-month highs, while aggregate listed Dulux products are also trending upwards
** It notes European construction prospects seem positive in 2024, which should support volumes for Akzo's decorative paints in the region
** Jefferies adds it sees an around 230 mln euro ($245 mln) tailwind YoY from lower raw material costs
** The broker also hikes Akzo's PT by 20% to 79 euros
** Nine out of 20 analysts rate Akzo "strong buy" or "buy", seven "hold", and four "strong sell" or "sell"
($1 = 0.9397 euros)
Reporting by Stéphanie Hamel
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
