Element Solutions upgraded to Buy at BofA on resilient earnings outlook

BofA upgraded Element Solutions (ESI) to Buy from Neutral with a price target of $24, down from $29. Element has noted limited direct tariff impact due to its localized manufacturing footprint with 55 global sites positioned near customers, allowing for flexible production shifts in response to tariffs, the analyst tells investors. However, Element shares have fallen 34% in the last two months, which the firm views as “an attractive buying opportunity” given the limited tariff impact it sees to raw material costs and demand.