Elementis upgraded to Buy on resilience at HSBC

HSBC upgraded Elementis to Buy from Hold with a price target of 170 GBp, up from 150 GBp. The company has shown resilience even in challenging macro environment and when conditions improve, its growth and margins should too, the analyst tells investors in a research note. The firm says Elementis’s “strong” balance sheet and a focus on organic growth “provide a strong platform for re-rating.”