Element Solutions price target raised to $28 from $26 at BofA

BofA raised the firm’s price target on Element Solutions to $28 from $26 and keeps a Buy rating on the shares. After five quarters of year-over-year decline, the electronics segment saw a return to positive sales in Q4, though weaker end markets drove further declines in the Industrial & Specialty segment, the analyst tells investors. While smartphone shipments and auto production may have modest growth in 2024, the firm expects outperformance from Element to be driven by pricing actions, cross-selling, favorable product mix, and business wins, the analyst added.