Arkema, the Basic Materials sector company, was revisited by a Wall Street analyst today. Analyst Thomas Wrigglesworth from Morgan Stanley maintained a Buy rating on the stock and has a €90.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Thomas Wrigglesworth has given his Buy rating due to a combination of factors including the positive performance of Arkema’s Adhesive Solutions business. The recent results from HB Fuller, which showed better than expected outcomes in their Engineering and Building adhesives segments, suggest a favorable environment for Arkema’s similar business lines.
Moreover, despite facing foreign exchange headwinds, Arkema’s business is expected to perform well, with forecasts indicating a solid EBITDA contribution from its Adhesive Solutions segment. Wrigglesworth notes that market consensus may not yet fully reflect Arkema’s cautious outlook, providing a potential opportunity for investors.
In another report released yesterday, Deutsche Bank also maintained a Buy rating on the stock with a €70.00 price target.